Company: FWDI
Filing Date: 2025-09-18
Form Type: SCHEDULE 13D
Source: 0001104659-25-091229
Chunk: 0

Company: Forward Industries, Inc.
Filing Date: 2025-09-18
Form: SCHEDULE 13D
Chunk 0
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 of MCMF LP, equal to 2% of the aggregate number of the securities issued in the Private Placement and (ii) an aggregate number of warrants to purchase an amount of shares of the Common Stock (the "Lead Investor Warrants") equal to 5% of the securities issued in the Private Placement.  The Lead Investor Warrants carry an exercise price of one penny ($0.01) per share and shall be exercisable as follows: (1) 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 Issuer's Common Stock on its principal stock exchange is equal to or greater than 150% of the cash Per Share Purchase Price for 20 out of 30 trading days following the effectiveness of the Resale Registration Statement; (2) 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 Issuer'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 Issuer'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. The Lead Investor Warrants include an exercise limitation that prohibits the holder from exercising the Lead Investor Warrants in an amount in excess of the specified ownership threshold of 9.99% of the issued and outstanding shares of Common Stock (the "Blocker").  The ability to exercise the Lead Investor Warrants at any given time is subject to the Blocker which applies to the beneficial ownership of the Reporting Persons in the aggregate.  As a result of the Blocker, as of the date hereof, any attempted exercise of the Lead Investor Warrants beneficially owned by Reporting Persons will not be effected by the Company.  Upon 61 days' prior notice to the Issuer, each holder of Lead Investors Warrant may increase or decrease the Blocker, provided that the Blocker in no event exceeds 19.99% of the issued and outstanding shares of Common Stock. 
 Pursuant to the Lead