Company: FWDI
Filing Date: 2025-06-10
Form Type: S-1
Source: 0001683168-25-004372
Chunk: 17

Company: Forward Industries, Inc.
Filing Date: 2025-06-10
Form: S-1
Chunk 17
---
 lower than the prices such investors paid for their shares in this offering.
In addition, if we sell a substantial number of shares to the Selling Stockholder under the Purchase Agreement, or if investors expect
that we will do so, the actual sales of shares or the mere existence of our arrangements with the Selling Stockholder may make it more
difficult for us to sell equity or equity-related securities in the future at a time and at a price that we might otherwise wish to effect
such sales.

Future resales and/or issuances of shares of common stock, including pursuant to this prospectus, or the perception that such sales may occur, may cause the market price of our shares to drop significantly.

On May 16, 2025, we entered
into the Purchase Agreement, pursuant to which the Selling Stockholder shall, subject to the restrictions and satisfaction of the conditions
in the Purchase Agreement, purchase from us up to an aggregate of $35,000,000 of shares of common stock, upon the terms and subject to
the conditions and limitations set forth in the Purchase Agreement.

The shares of our common stock
that may be issued under the Purchase Agreement may be sold, subject to the restrictions and satisfaction of the conditions in the Purchase
Agreement, by us to the Selling Stockholder at our discretion from time to time from the date of effectiveness of the registration statement
of which this prospectus forms a part until the earliest to occur of (i) the first day of the month next following the 36-month anniversary
of the Commencement Date, (ii) the date on which the Selling Stockholder shall have purchased the Commitment Amount, or (iii) the Purchase
Agreement is otherwise terminated in accordance with its terms.

The purchase price for shares
of our common stock that we may sell to the Selling Stockholder under the Purchase Agreement will fluctuate based on the trading price
of shares of our common stock. Depending on market liquidity at the time, sales of shares of our common stock may cause the trading price
of shares of our common stock to decrease. We generally have the right to control the timing and amount of any future sales of shares
of our common stock to the Selling Stockholder. Additional sales of shares of our common stock, if any, to the Selling Stockholder will
depend upon market conditions and other factors to be determined by us. We may ultimately decide to sell to the Selling Stockholder all,
some or none of the additional shares of our common stock that may be available for