Company: FWDI
Filing Date: 2025-06-10
Form Type: S-3
Source: 0001683168-25-004375
Chunk: 11

Company: Forward Industries, Inc.
Filing Date: 2025-06-10
Form: S-3
Chunk 11
---
 terms of the warrants, including terms, procedures and limitations relating to the exchange and exercise of the warrants.                                                         |

Exercise of warrants

Each warrant will entitle
the holder of the warrant to purchase the securities that we specify in the applicable prospectus supplement at the exercise price that
we describe in the applicable prospectus supplement. Holders may exercise warrants at any time up to 5:00 p.m. Eastern Time on the expiration
date set forth in the applicable prospectus supplement, unless otherwise specified in the warrant agreement. After the close of business
on the expiration date, unexercised warrants will automatically expire and become void. Holders may exercise warrants as set forth in
the prospectus supplement relating to the warrants being offered. Until a holder exercises the warrants to purchase any securities underlying
the warrants, the holder will not have any rights as a holder of the underlying securities by virtue of ownership of warrants.

| 5 |

<div align='center'>DESCRIPTION OF UNITS</div>

We may issue units comprised
of one or more of the other securities described in this prospectus or any prospectus supplement in any combination. Each unit will be
issued so that the holder of the unit will automatically become the holder of each security included in the unit, with all associated
rights and obligations of such securities. The unit agreement under which a unit is issued may provide that the securities included in
the unit may not be held or transferred separately, at any time or at any times before a specified date or upon the occurrence of a specified
event or occurrence.

The applicable prospectus supplement will describe:

| · | the designation and the terms of the units and of the securities comprising the units, including whether and under what circumstances those securities may be held or transferred separately; |
| · | any unit agreement under which the units will be issued;                                                                                                                                      |
| · | any provisions for the issuance, payment, settlement, transfer or exchange of the units or of the securities comprising the units; and                                                        |
| · | whether the units will be issued in fully registered or global form.                                                                                                                          |

Transfer Agent

We have appointed Equiniti
Trust Company, LLC as our stock transfer agent. The transfer agent’s address is 48 Wall Street, Floor 23, New York, NY 10005.

| 6 |

<div align='center'>CERTAIN PROVISIONS OF NEW YORK LAW AND OF OUR CHARTER AND BYLAWS</div>

Anti-Takeover Effects of New York Law

Section