Company: FWDI
Filing Date: 2025-11-14
Form Type: 424B5
Source: 0001683168-25-008451
Chunk: 24

Company: Forward Industries, Inc.
Filing Date: 2025-11-14
Form: 424B5
Chunk 24
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 satisfying
the delivery requirements of the Securities Act. The selling shareholders may indemnify any broker-dealer that participates in transactions
involving the sale of the Shares against certain liabilities, including liabilities arising under the Securities Act.

We have agreed to indemnify
the selling shareholders against liabilities, including liabilities under the Securities Act and state securities laws, relating to the
registration of the Shares offered by this prospectus supplement.

We have agreed with the selling
shareholders to use commercially reasonable efforts to cause the registration statement of which this prospectus supplement constitutes
a part to become effective and to remain continuously effective until the earlier of: (i) the date on which the selling shareholders shall
have resold or otherwise disposed of all the Shares covered by this prospectus supplement and (ii) the date on which the Shares covered
by this prospectus supplement no longer constitute “Registrable Securities” as such term is defined in the Registration Rights
Agreement, such that they may be resold by the selling shareholders without registration and without regard to any volume or manner-of-sale
limitations and without current public information pursuant to Rule 144 under the Securities Act or any other rule of similar effect.

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<div align='center'>LEGAL
MATTERS</div>

The validity of the securities
offered hereby will be passed upon for us by Nason, Yeager, Gerson, Harris & Fumero, P.A., Palm Beach Gardens, Florida.

<div align='center'>EXPERTS</div>

The consolidated financial
statements of Forward Industries, Inc. and Subsidiaries for the years ended September 30, 2024 and 2023, have been audited by CohnReznick
LLP, independent registered public accounting firm, as set forth in their report thereon appearing in Forward Industries, Inc. and Subsidiaries’
Annual Report on Form 10-K for the year ended September 30, 2024, and incorporated by reference herein. Such consolidated financial statements
are incorporated by reference herein in reliance upon such report, which includes an explanatory paragraph on Forward Industries, Inc.
and Subsidiaries’ ability to continue as a going concern, given on the authority of such firm as experts in accounting and auditing.

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PROSPECTUS

<div align='center'>FORWARD INDUSTRIES, INC.

Common Stock

Preferred Stock

Depositary Shares

Warrants

Subscription Rights

Purchase Contracts

Units</div>

We may offer and