Company: FWDI
Filing Date: 2025-11-03
Form Type: 424B5
Source: 0001683168-25-007923
Chunk: 133

Company: Forward Industries, Inc.
Filing Date: 2025-11-03
Form: 424B5
Chunk 133
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 There is no arrangement for funds to be received in an escrow, trust or similar arrangement.

Cantor will use its commercially reasonable efforts,
consistent with its sales and trading practices, to solicit offers to purchase the shares of Common Stock under the terms and subject
to the conditions set forth in the Sales Agreement. In connection with the potential future sales of Common Stock on our behalf, the Agent
will be deemed to be an “underwriter” within the meaning of the Securities Act, and the compensation of the Agent will be
deemed to be underwriting commissions or discounts. We have agreed to provide indemnification and contribution to the Agent and specified
other persons against certain civil liabilities, including liabilities under the Securities Act and the Exchange Act.

We will report at least quarterly the number of
our shares of Common Stock sold under the Sales Agreement and the net proceeds to us in connection with such sales of our Common Stock.

The offering of our Common Stock pursuant to the
Sales Agreement will terminate upon the termination of the Sales Agreement as permitted therein. We and the Agent may each terminate the
Sales Agreement at any time upon 10 days’ prior notice.

The Agent and its affiliates have in the past
provided, and may in the future provide various investment banking, commercial banking and other financial services for us and our affiliates,
for which services they have received, and may in the future receive customary fees. To the extent required by Regulation M, the
Agent will not engage in any market-making activities involving our shares of Common Stock while the offering is ongoing under this prospectus.

This prospectus may be made available in electronic
format on a website maintained by the Agent, and the Agent may distribute this prospectus electronically.

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<div align='center'>LEGAL MATTERS</div>

Certain legal matters will be passed upon for
us by Nason, Yeager, Gerson, Harris & Fumero, P.A., Palm Beach Gardens, Florida. Cantor is being represented in connection with this
offering by DLA Piper LLP (US), New York, NY.

<div align='center'>EXPERTS</div>

The consolidated financial statements of Forward
Industries, Inc. and Subsidiaries for the years ended September 30, 2024 and 2023, have been audited by CohnReznick LLP, independent registered
public accounting firm, as set forth in their report thereon appearing in Forward Industries, Inc. and Subsidiaries’ Annual report
on Form