Company: FWDI
Filing Date: 2025-11-14
Form Type: 424B5
Source: 0001683168-25-008451
Chunk: 13

Company: Forward Industries, Inc.
Filing Date: 2025-11-14
Form: 424B5
Chunk 13
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 Warrants and Lead
Investor Shares on an effective registration statement.

Galaxy Strategic Advisor
Agreement

On September 6, 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 Advisor Shares. The exercise
price per share of the Advisor Warrants shall equal one penny ($0.01) per share and shall be exercisable as follows: (1) one-third (1/3)
of the Advisor 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 150% of the cash Per Share Purchase Price for 20 out of 30 trading days
following the effectiveness of the registration statement; (2) one-third (1/3) of the Advisor 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 200% of the cash Per Share Purchase Price for 20 out of 30 trading days following the effectiveness of the registration statement;
and (3) one-third (1/3) of the Advisor 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 registration statement.

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Lead Investor Agreement

On September 6, 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 their respective participation, we issued to
each of Jump Crypto and