Company: FWDI
Filing Date: 2025-09-17
Form Type: S-3ASR
Source: 0001683168-25-007043
Chunk: 75

Company: Forward Industries, Inc.
Filing Date: 2025-09-17
Form: S-3ASR
Chunk 75
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 of Series B Convertible Preferred
Stock, $0.01 par value (“Series B”) (Stated Value of $400,000) in accordance with the terms of the Series B and was
issued 91,506 shares of Common Stock (based on a conversion price of $4.50 per share) of the Company. On September 10, 2025, C/M converted
600,000 shares of Series B (Stated Value of $600,000) in accordance with the terms of the Series B and issued 137,259 shares of Common
Stock (based on a conversion price of $4.50 per share) of the Company. Following WVP’s and C/M’s conversion of their Series
B, no Series B remain outstanding.

Appointments

On September 10, 2025, the Board appointed: (i)
Michael Pruitt to serve on the Board, effective immediately, until elections are held at our next shareholder meeting and (ii) Pyahm (Kyle)
Samani to serve on the Board until elections are held at our next shareholder meeting. Mr. Samani will also serve as Chairman of the Board.

| 12 |

THE OFFERING

| Issuer                                                 |     | Forward Industries, Inc., a New York corporation.                                                                                                                                      |
| Common Stock offered by us                             |     | Shares of our Common Stock having an aggregate gross sales price of up to $4 billion.                                                                                                  |
| Common Stock to be outstanding following this Offering |     | Up to 187,631,765 shares of Common Stock, including the                                                                                                                                
 sale of 102,564,103 shares of our Common Stock, in this offering assuming the sale of $4 billion shares of our Common Stock in this                                                    
 offering at an assumed offering price of $39.00 per share, which was the last reported sale price of our Common Stock on the Nasdaq                                                    
 on September 15, 2025. The actual number of shares of our Common Stock issued will vary depending on how many shares of our Common                                                     
 Stock we choose to sell and the sale prices at which such sales occur.                                                                                                                 |
| Manner of Offering                                     |     | Sales of our Common Stock, if any, will be made from time                                                                                                                              
 to time in sales deemed to be an “at the market offering” as defined in Rule 415 promulgated under the Securities                                                                      
 Act to or through Cantor, acting as principal and/or sales agent. Cantor will use commercially reasonable