Forward Industries Proposes All-Stock Acquisition of Brera Holdings, Offer Rejected
Forward Industries (NASDAQ: FWDI) made a non-binding proposal to acquire Brera Holdings PLC in an all-stock transaction, offering a 30.7% premium, but Brera's board rejected the offer.
Forward Industries, Inc. (NASDAQ: FWDI), a Solana-focused digital asset treasury company, announced that it made an indicative, non-binding proposal to acquire the entire issued and to be issued share capital of Brera Holdings PLC in an all-stock transaction. According to the proposal, Brera shareholders would receive 1.54 newly issued shares of Forward common stock for each Brera share, representing a premium of approximately 30.7% to the volume-weighted average closing price of Brera ordinary shares over the 10 trading days ended June 1, 2026, or $7.19 per share.
Forward Industries stated that the proposal was rejected by Brera's board of directors on June 6, 2026, despite what it described as a compelling opportunity for shareholders to receive a meaningful premium while maintaining exposure to the Solana ecosystem through a larger and more liquid treasury platform. The company said 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 Solana ecosystem. The company's mission is to buy, hold, stake, trade, invest in, and grow SOL and SOL-related digital assets, protocols, and businesses. In connection with a private placement transaction in September 2025, Forward launched its digital asset treasury strategy supported by industry leading investors and operating partners including Galaxy Digital and Jump Crypto. For more information on the Company's Solana treasury strategy, visit forwardindustries.com.
The rejection of the proposal raises questions about the future of consolidation in the digital asset space, particularly among companies focused on the Solana network. Brera Holdings, which trades under the ticker SLMT, may have its own strategic plans that it believes offer greater value to shareholders. Forward Industries, however, remains open to dialogue, suggesting that the deal could still be revived if terms are renegotiated.
This development is significant for investors tracking the Solana ecosystem, as a merger would have created a larger entity with increased liquidity and resources to support Solana-based projects. The premium offered by Forward indicates its desire to quickly expand its treasury operations. For now, the ball is in Brera's court, and market participants will be watching for any further moves from either party. The latest news and updates relating to FWDI are available in the company's newsroom at https://ibn.fm/FWDI.