Company: FWDI
Filing Date: 2025-11-03
Form Type: 424B5
Source: 0001683168-25-007923
Chunk: 132

Company: Forward Industries, Inc.
Filing Date: 2025-11-03
Form: 424B5
Chunk 132
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 Form 8-K and will be incorporated by reference into this prospectus.

Upon delivery of a placement notice to Cantor
and subject to the terms and conditions of the Sales Agreement, Cantor may sell shares of our Common Stock by any method permitted by
law deemed to be an “at the market offering” as defined in Rule 415(a)(4) promulgated under the Securities Act. We may
instruct Cantor not to sell shares of our Common Stock if the sales cannot be effected at or above the price designated by us from time
to time. We or Cantor may suspend the offering of shares of our Common Stock upon notice and subject to other conditions.

We will pay the Agent a commission, in cash, at
a rate of up to 3.0% of the gross sales price per share issued by us and sold pursuant to the Sales Agreement. Because there is no minimum
offering amount required as a condition of this offering, the actual total public offering amount, commissions and proceeds to us, if
any, are not determinable at this time. We have also agreed to reimburse the Agent for certain specified fees and documented expenses,
including the reasonable and documented out-of-pocket fees and disbursements of the counsels to the Agent in an amount not to exceed (a)
$125,000 in connection with the execution of the Sales Agreement, (b) $25,000 per calendar quarter thereafter payable in connection with
each representation date with respect to which the Company is obligated to deliver a certificate pursuant to the terms of the Sales Agreement,
and (c) $40,000 for each program “refresh” (filing of a new registration statement, prospectus or prospectus supplement relating
to the shares of Common Stock and/or an amendment of the Sales Agreement) executed pursuant to the Sales Agreement. We estimate that the
total expenses for the offering, excluding compensation and reimbursements payable to the Agent pursuant to the terms of the Sales Agreement,
will be approximately $900,000.

Settlement for sales of our Common Stock will
occur on the business day immediately following the date on which any sales are made, or on such other date that is agreed upon by us
and Cantor in connection with a particular transaction, in return for payment of the net proceeds to us. Sales of our Common Stock as
contemplated in this prospectus will be settled through the facilities of The Depository Trust Company or by such other means as we and
Cantor may agree upon.