Company: FWDI
Filing Date: 2025-09-08
Form Type: 8-K
Source: 0001683168-25-006734
Chunk: 1

Company: Forward Industries, Inc.
Filing Date: 2025-09-08
Form: 8-K
Item: Item 1.01
Chunk 1
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 to any percentage
in excess of 9.99%.

The Private Placement is expected to close on September
10, 2025 (the “Closing Date”), subject to the satisfaction of customary closing conditions. In connection with the
announcement of the Private Placement, the Company announced the launch of its digital asset treasury strategy, pursuant to which the
Company plans to pursue a number of strategic initiatives to acquire Solana tokens and other digital assets. The Company intends to use
the net proceeds from the Private Placement to purchase Solana tokens, for working capital and any future transactions, for the payment
of transaction costs and for the establishment of the Company’s cryptocurrency treasury operations. In connection with the announcement
of the Private Placement, the Company announced the launch of its digital asset treasury strategy, pursuant to which the Company plans
to pursue a number of strategic initiatives to acquire Solana tokens and other digital assets.

The Securities Purchase Agreement contains customary
representations, warranties and agreements by the Company, customary conditions to closing, indemnification obligations of the Company,
other obligations of the parties and termination provisions.

Pursuant to the Securities Purchase Agreement,
the Company has agreed to certain restrictions on the issuance and sale of the Company’s securities for a period beginning on
the date of the Securities Purchase Agreement until the thirtieth (30th) day following the date the resale registration statement
filed pursuant to the Registration Rights Agreement (as defined below) becomes effective, subject to certain exceptions.
Additionally, each Purchaser will execute and deliver a Lock-Up Agreement, substantially in the form attached as Exhibit B to the
Securities Purchase Agreement (a “Lock-Up Agreement”), with respect to the Shares and the Pre-Funded Warrants
pursuant to which such Purchaser will agree not to (1) offer, pledge, sell, contract to sell, grant, lend, or otherwise transfer or
dispose of, directly or indirectly, any Shares or Pre-Funded Warrants, or any securities convertible into or exercisable or
exchangeable for Shares or Pre-Funded Warrants, whether now owned or thereafter acquired by such Purchaser or with respect to which
such Purchaser has or thereafter acquires the power of disposition (collectively, the “Lock-Up Securities”); (2)
enter into any swap, hedge, Short Sale (as defined in the Securities Purchase Agreement) or other arrangement that transfers to
another, in whole or in part, any of the economic consequences of ownership of the Lock-Up Securities, whether any such transaction