Company: FWDI
Filing Date: 2025-09-08
Form Type: 8-K
Source: 0001683168-25-006734
Chunk: 7

Company: Forward Industries, Inc.
Filing Date: 2025-09-08
Form: 8-K
Item: Item 1.01
Chunk 7
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 exercisable on and after the first date on which the closing trading price of the Company’s Common Stock
on its principal stock exchange is equal to or greater than 200% of the cash Per Share Purchase Price for 20 out of 30 trading days following
the effectiveness of the Resale Registration Statement; and (3) one-third (1/3) of the Lead Investor Warrants shall be exercisable on
and after the first date on which the closing trading price of the Company’s Common Stock on its principal stock exchange is equal
to or greater than 250% of the cash Per Share Purchase Price for 20 out of 30 trading days following the effectiveness of the Resale Registration
Statement. 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
of the Company (the “Board”), who shall also be chairperson of the Board (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 (including recommending
that the Company’s stockholders vote in favor of the election of the Investor Designee). The Lead Investor Agreement also contains
customary representations and warranties, confidentiality provisions and limitations on liability.

Immediately following the issuance of the Lead
Investor Shares and the Lead Investor Warrants: (a) the Company has agreed to provide certain registration rights under the
Securities Act in respect of the shares of Common Stock issuable upon exercise of the Lead Investor Warrants; and (b) each of Jump
Crypto and Multicoin has agreed to execute and deliver a Lock-Up Agreement with respect to the Lead Investor Shares and the Lead
Investor Warrants; provided that the Lock-Up Period shall be (i) with respect to the Lead Investor Shares, the period ending on the
earlier of (y) the one year anniversary of the Closing Date and (z) from six months to one year from the Closing Date if, at any
time following the date of issuance, the VWAP (as defined in the Lead Investor Warrants) of the Company’s Common Stock is
equal to or greater than at least one hundred fifty percent (150%) of the cash Per Share Purchase Price for 20 out of 30 consecutive
trading days, and (ii) with respect