Company: FWDI
Filing Date: 2025-11-03
Form Type: 424B5
Source: 0001683168-25-007923
Chunk: 29

Company: Forward Industries, Inc.
Filing Date: 2025-11-03
Form: 424B5
Chunk 29
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 transferees,
pledgees or other successors in interest will be the selling shareholders for purposes of this prospectus supplement.

| S-31 |

In connection with the sale
of our Shares or interests therein, the selling shareholders may enter into hedging transactions with broker-dealers or other financial
institutions, which may in turn engage in short sales of the Shares in the course of hedging the positions they assume. The selling shareholders
may also sell Shares short and deliver these securities to close out their short positions, or loan or pledge the Shares to broker-dealers
that in turn may sell these securities. The selling shareholders may also enter into option or other transactions with broker-dealers
or other financial institutions or the creation of one or more derivative securities which require the delivery to such broker-dealer
or other financial institution of Shares offered by this prospectus supplement, which Shares such broker-dealer or other financial institution
may resell pursuant to this prospectus supplement (as supplemented or amended to reflect such transaction, to the extent required).

The selling shareholders also
may resell all or a portion of the Shares in open market transactions in reliance upon Rule 144 under the Securities Act; provided that
they meet the criteria and conform to the requirements of that rule, or another available exemption from the registration requirements
under the Securities Act.

The selling shareholders and
any underwriters, broker-dealers or agents that participate in the sale of the Shares or interests therein may be “underwriters”
within the meaning of Section 2(a)(11) of the Securities Act (it being understood that the selling shareholders shall not be deemed to
be underwriters solely as a result of their participation in this offering). Any discounts, commissions, concessions or profit they earn
on any resale of the Shares may be underwriting discounts and commissions under the Securities Act. Selling shareholders will be subject
to the delivery requirements of the Securities Act (or an exemption therefrom).

To the extent required, the
Shares to be sold, the names of the selling shareholders, the respective purchase prices and public offering prices, the names of any
agent, dealer or underwriter, and any applicable commissions or discounts with respect to a particular offer will be set forth in an accompanying
prospectus supplement or, if appropriate, a post-effective amendment to the registration statement of which this prospectus supplement
forms a part.

In order to comply with the
securities laws of some states, if applicable, the Shares may be sold in these jurisdictions only through registered or