Forward Industries, Inc. (NASDAQ: FWDI), a Solana-focused digital asset treasury company, announced that it has made an indicative, non-binding proposal to acquire the entire issued and to be issued share capital of Brera Holdings PLC ("SLMT") in an all-stock transaction. Under the proposed terms, SLMT shareholders would receive 1.54 newly issued shares of Forward common stock for each SLMT share, representing a premium of approximately 30.7% to the volume-weighted average closing price of SLMT ordinary shares over the 10 trading days ended June 1, 2026, or $7.19 per share.
Despite the premium, Forward Industries disclosed that the proposal was rejected by SLMT's board of directors on June 6, 2026. Forward described the offer as a compelling opportunity for SLMT shareholders to receive a meaningful premium while maintaining exposure to the Solana ecosystem through a larger and more liquid treasury platform. The company stated it remains open to further discussions and believes the proposed combination would advance the shared objective of increasing value for shareholders and supporting growth within the Solana ecosystem.
The announcement highlights Forward Industries' strategic focus on expanding its presence in the digital asset space, particularly within the Solana network. The company's mission is to buy, hold, stake, trade, invest in, and grow SOL and SOL-related digital assets, protocols, and businesses. Forward launched its digital asset treasury strategy in September 2025 through a private placement transaction, supported by industry-leading investors and operating partners including Galaxy Digital and Jump Crypto.
Brera Holdings PLC, the target company, operates within the Solana ecosystem, and the proposed acquisition was intended to create a larger treasury platform. The rejection by Brera's board suggests potential disagreements over valuation or strategic fit, but Forward Industries indicated a willingness to continue negotiations. The outcome of this proposal could have implications for both companies' shareholders and the broader Solana ecosystem.
For more details, the full press release is available at https://ibn.fm/5Ykvd. Additional information on Forward Industries' Solana treasury strategy can be found at https://forwardindustries.com.
