Solana treasury Forward Industries flashes a 30% SOL discount, with a catch

Forward Industries' Nov. 10 update puts the Solana treasury company's shares at a 29.7% discount to net assets using common shares alone. Counting all the potential shares in the same disclosure, that discount shrinks to 2.4%. The difference is who could eventually share in the assets. The share count is key almost as much as the treasury for investors comparing Nasdaq -listed FWDI with buying Solana directly. The capitalization update uses a $5.53 share price and $600.2 million of net asset value (NAV). Forward's accompanying 8-K says the figures are preliminary, unaudited, and incomplete. Dividing the same net assets among more potential shares produces three distinct comparisons: Each discount is calculated as 1 minus the share price divided by NAV per share, using unrounded values.

BeCrypto News shows a short excerpt and links to the publisher. The full report belongs to CryptoSlate.