Company: FWDI
Filing Date: 2025-09-08
Form Type: 8-K
Source: 0001683168-25-006734
Chunk: 8

Company: Forward Industries, Inc.
Filing Date: 2025-09-08
Form: 8-K
Item: Item 1.01
Chunk 8
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 to shares purchased by Jump Crypto and Multicoin or the shares of Common Stock underlying the
Lead Investor Warrants, the period ending six months from the effectiveness of the Resale Registration Statement.

   4  

The Lead Investor Shares and Lead Investor Warrants
are being offered in reliance upon the exemption from the registration requirements of the Securities Act, pursuant to Section 4(a)(2)
thereof and/or Rule 506(b) of Regulation D promulgated thereunder, and applicable state securities laws. The issuance of Lead Investor
Shares, the Lead Investor Warrants and the shares of Common Stock underlying the Lead Investor Warrant have not been registered under
the Securities Act and such securities may not be offered or sold in the United States absent registration or an exemption from registration
under the Securities Act and any applicable state securities laws.

The foregoing descriptions of the Lead Investor Agreement
and Lead Investor Warrants do not purport to be complete and are qualified in their entirety by reference to the full text of the Lead
Investor Agreement and the form of the Lead Investor Warrants, copies of which are attached hereto as Exhibit 10.4 and 4.3, respectively,
and incorporated herein by reference.

C/M Waiver and Leak-Out Agreement

On September 8, 2025, the Company entered into a
waiver and leak-out agreement (the “Waiver and Leak-out Agreement”) with each of C/M Capital Master Fund, LP and WVP
Emerging Manager Onshore Fund, LLC - Structured Small Cap Lending Series (collectively, “C/M”) in connection
with the Company’s Series B Convertible Preferred Stock, $0.01 par value (“ Series B Stock”), pursuant to which
C/M agreed to (i) the termination, waiver or amendment of all covenants and provisions to forgo all of C/M’s rights under the
Common Stock Purchase Warrant (the “ Warrant”), the Preferred Stock Purchase Agreement and the Registration Rights
Agreement, each entered into on or about May 23, 2025, between the Company and C/M, including a general release from any liability for
prior non-performance, and (ii) provide conversion notices and such other documentation reasonably requested by the Company in order
to complete the conversion of all of C/M’s Series B Stock into shares of Common Stock.

In connection with the Waiver and Leak-out Agreement,
the Company granted C/M the right to purchase up to $33,000,000 worth of shares