Company: FWDI
Filing Date: 2025-11-10
Form Type: 424B5
Source: 0001683168-25-008141
Chunk: 77

Company: Forward Industries, Inc.
Filing Date: 2025-11-10
Form: 424B5
Chunk 77
---
 issue subscription
rights to purchase shares of our common stock or shares of our preferred stock. We may issue subscription rights independently or together
with any other offered security, which may or may not be transferable by the stockholder. In connection with any offering of subscription
rights, we may enter into a standby arrangement with one or more underwriters or other purchasers pursuant to which the underwriters or
other purchasers may be required to purchase any securities remaining unsubscribed for after such offering.

The prospectus supplement
relating to any subscription rights we may offer will contain the specific terms of the subscription rights. These terms may include the
following:

| · | the price, if any, for the subscription rights;                                                                     |
| · | the number and terms of each share of common stock or preferred stock which may be purchased per each subscription  
 right;                                                                                                              |
| · | the exercise price payable for each share of common stock or preferred stock upon the exercise of the subscription  
 rights;                                                                                                             |
| · | the extent to which the subscription rights are transferable;                                                       |
| · | any provisions for adjustment of the number or amount of securities receivable upon exercise of the subscription    
 rights or the exercise price of the subscription rights;                                                            |
| · | any other terms of the subscription rights, including the terms, procedures and limitations relating to the         
 exchange and exercise of the subscription rights;                                                                   |
| · | the date on which the right to exercise the subscription rights shall commence, and the date on which the           
 subscription rights shall expire;                                                                                   |
| · | the extent to which the subscription rights may include an over-subscription privilege with respect to unsubscribed 
 securities; and                                                                                                     |
| · | if applicable, the material terms of any standby underwriting or purchase arrangement entered into by us            
 in connection with the offering of subscription rights.                                                             |

The description in an accompanying
prospectus supplement of any subscription rights we offer will not necessarily be complete and will be qualified in its entirety by reference
to the applicable subscription rights certificate or subscription rights agreement, which will be filed with the SEC if we offer subscription
rights. For more information on how you can obtain copies of any subscription rights certificate or subscription rights agreement if we
offer subscription rights, see “Where You Can Find More Information.” We urge you to read the applicable subscription rights
certificate, the applicable subscription rights agreement and any accompanying prospectus supplement in their entirety.

| 32 |

<div align='center'>DESCRIPTION
OF PURCHASE CONTRACTS AND