Company: FWDI
Filing Date: 2025-11-03
Form Type: 424B5
Source: 0001683168-25-007923
Chunk: 22

Company: Forward Industries, Inc.
Filing Date: 2025-11-03
Form: 424B5
Chunk 22
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 #1605, San Juan, PR 00907, United States.                                                                                  |
| (6)  | Consists of 4,054,055 shares of our common stock acquired by Alyeska Investment Group, L.P., including                                           
 540,541 shares issuable upon the exercise of the Pre-Funded Warrants. The investment manager of Alyeska Master Fund, L.P. (the “Selling          
 Securityholder”), has voting and investment control of the shares held by the Selling Securityholder. Anand Parekh is the Chief                  
 Executive Officer of Alyeska Investment Group, L.P. and may be deemed to be the beneficial owner of such shares. Mr. Parekh, however,            
 disclaims any beneficial ownership of the shares held by the Selling Securityholder. The registered address of Alyeska Master Fund, L.P.         
 is at c/o Maples Corporate Services Limited, P.O. Box 309, Ugland House, South Church Street George Town, Grand Cayman, KY1-1104, Cayman         
 Islands. Alyeska Investment Group, L.P. is located at 77 W. Wacker, Suite 700, Chicago, IL 60601, United States.                                 |
| (7)  | Consists of 686,378 shares of our common stock acquired by American Steadfast, L.P. American Steadfast,                                          
 L.P. is controlled by Steadfast Capital Management L.P. The individuals with voting and investment power over the securities held by American    
 Steadfast, L.P. are Robert Pitts, Jr. and Miraj Patel. American Steadfast, L.P. is located at 450 Park Avenue, 20th Floor, New York, NY          
 10022, United States.                                                                                                                            |
| (8)  | Consists of 54,100 shares of our common stock acquired by Anson East Master Fund LP. Anson Advisors Inc                                          
 and Anson Funds Management LP, the Co-Investment Advisers of Anson East Master Fund LP (“Anson”), hold voting and dispositive                    
 power over the Common Shares held by Anson. Tony Moore is the managing member of Anson Management GP LLC, which is the general partner           
 of Anson Funds Management LP. Moez Kassam and Amin Nathoo are directors of Anson Advisors Inc. Mr. Moore, Mr. Kassam and Mr. Nathoo each         
 disclaim beneficial ownership of these Common