Company: FWDI
Filing Date: 2025-06-10
Form Type: PRE 14A
Source: 0001683168-25-004370
Chunk: 54

Company: Forward Industries, Inc.
Filing Date: 2025-06-10
Form: PRE 14A
Chunk 54
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 funding for the Company and its operations.

On any business day on which the
previous business day’s closing sale price of the common stock was equal to or greater than $1.00 (unless such limit is waived by
the Purchaser) (the “Purchase Date”), the Company may direct the Purchaser to purchase a specified number of shares of common
stock (a “Fixed Purchase”) not to exceed (i) $400,000 of shares of common stock or (ii) 10,000 shares of common stock, at
a purchase price equal to the lesser of 95% of (i) the lowest sale price of the common stock on the trading day immediately prior to such
applicable Purchase Date or (ii) the daily volume weighted average price (the “VWAP”) of the common stock for the five trading
days immediately preceding the applicable Purchase Date for such Fixed Purchase.

In addition, at any time from
and after the Commencement Date, on any business day on which the previous business day’s closing sale price of the common stock
is equal to or greater than $1.00 (unless such limit is waived by the Purchaser) and such business day is also the Purchase Date for a
Fixed Purchase of an amount of shares of common stock not less than the applicable Fixed Purchase Maximum Amount (as defined in the ELOC
Agreement) (the “VWAP Purchase Date”), the Company may also direct the Purchaser to purchase an additional number of shares
of common stock (a “VWAP Purchase”) at a purchase price equal to the lesser of 95% of (i) the closing price of a share of
common stock on the trading day immediately prior to such applicable Purchase Date and (ii) the lowest sale price on the VWAP Purchase
Date.

At any time from and after the
Commencement Date, on any business day that is also the VWAP Purchase Date for a VWAP Purchase, the Company may also direct the Purchaser
to purchase, on such same business day (the “Additional VWAP Purchase Date”), an additional number of shares of common stock
in an amount up to the Additional VWAP Purchase Maximum Amount (as defined in the ELOC Agreement) (an “Additional VWAP Purchase”)
at a purchase price equal to the lesser of 95% of (i) the closing price of a share of common stock on the trading day immediately prior
to such applicable Purchase Date and (ii) the lowest sale price of