Company: FWDI
Filing Date: 2025-12-11
Form Type: 10-K
Source: 0001683168-25-009068
Chunk: 1833

Company: Forward Industries, Inc.
Filing Date: 2025-12-11
Form: 10-K
Item: Item 8
Chunk 1833
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 Advisor Agreement

In September 2025, we entered
into a Strategic Advisor and Lead Investor Agreement (the “Strategic Advisor Agreement”) with Galaxy Digital LP (“Galaxy”)
pursuant to which we engaged Galaxy to serve as our strategic advisor with respect to the Private Placement. In consideration of Galaxy’s
services, we issued to Galaxy, in addition to the Securities acquired by Galaxy pursuant to the Securities Purchase Agreement, 1,783,519
of Pre-Funded Warrants and 4,458,796 warrants (the “Advisor Warrants”) to purchase an amount of shares of our Common Stock
(the “Advisor Shares”).

     F-22 

FORWARD INDUSTRIES, INC. AND SUBSIDIARIES

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

Lead Investor Agreement

In September 2025, we entered
into a Lead Investor Agreement (the “Lead Investor Agreement”) with J Digital 6 Cayman Ltd. (“Jump Crypto”) and
Multicoin Capital Master Fund, LP (“Multicoin,” and together with Galaxy and Jump Crypto, the “Sponsors”) to secure
the commitment of Jump Crypto and Multicoin in the Private Placement. In consideration of Jump Crypto and Multicoin’s participation,
we issued to each of Jump Crypto and Multicoin, in addition to the Securities acquired by Jump Crypto and Multicoin pursuant to the Securities
Purchase Agreement, 1,783,519 shares of our Common Stock (the “Lead Investor Shares”) and 4,458,796 warrants to purchase an
amount of shares of the Common Stock (the “Lead Investor Warrants”). Pursuant to the Lead Investor Agreement, for so long
as Multicoin continues to beneficially own at least 5% of the Company’s issued and outstanding shares of Common Stock, Multicoin
has the right to nominate one individual for election to the Board of Directors, who shall also be chairperson of the Board of Directors
(such nominee, the “Investor Designee”), and the Company agreed to use its reasonable best efforts to cause the Investor Designee
to be elected to the Board of Directors (including recommending that the Company’s shareholders vote in favor of the election of
the Investor Designee).

Registered Direct Offering

On August 11, 2025, the
Company entered into subscription agreements with six investors pursuant to which it agreed to issue and sell, in a registered direct
offering (the “Offering”), an aggregate