Company: FWDI
Filing Date: 2025-06-10
Form Type: S-3
Source: 0001683168-25-004375
Chunk: 16

Company: Forward Industries, Inc.
Filing Date: 2025-06-10
Form: S-3
Chunk 16
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Under agreements we may enter
into, we may indemnify underwriters, brokers, and agents who participate in the distribution of the securities against certain liabilities,
including liabilities under the Securities Act, or contribute with respect to payments that the underwriters, brokers or agents may be
required to make, subject to applicable law and the terms of the specific agreements.

Any compensation we pay underwriters
or brokers will be subject to the guidelines of the Financial Industry Regulatory Authority, Inc. We will disclose the compensation in
any applicable prospectus supplement or pricing supplement, as the case may be.

To facilitate the offering
of securities, certain persons participating in the offering may engage in transactions that stabilize, maintain, or otherwise affect
the price of the securities, subject to Regulation M and other applicable securities laws and regulations. This may include over-allotments
or short sales of the securities, which involve the sale by persons participating in the offering of more securities than we sold to them.
In these circumstances, these persons would cover such over-allotments or short positions by making purchases in the open market or by
exercising their over-allotment option, if any. In addition, these persons may stabilize or maintain the price of the securities by bidding
for or purchasing securities in the open market or by imposing penalty bids, whereby selling concessions allowed to brokers participating
in the offering may be reclaimed if securities sold by them are repurchased in connection with stabilization transactions. The effect
of these transactions may be to stabilize or maintain the market price of the securities at a level above that which might otherwise prevail
in the open market. These transactions may be discontinued at any time.

From time to time, we may
engage in transactions with these underwriters, brokers, and agents in the ordinary course of business.

Direct Sales and Sales through Agents

We or a selling security holder
may sell the securities directly. In this case, no underwriters or agents would be involved. We also may sell the securities through agents
designated by us from time to time. In the applicable prospectus supplement, we will name any agent involved in the offer or sale of the
offered securities, and we will describe any commissions payable to the agent. Unless we inform you otherwise in the applicable prospectus
supplement, any agent will agree to use its reasonable best efforts to solicit purchases for the period of its appointment.

We or a selling security holder
may sell the securities directly to institutional investors or others who may be deemed to be underwriters within the