Company: FWDI
Filing Date: 2025-11-10
Form Type: 424B5
Source: 0001683168-25-008141
Chunk: 43

Company: Forward Industries, Inc.
Filing Date: 2025-11-10
Form: 424B5
Chunk 43
---
49999 of the exercise price per Pre-Funded Warrant that was pre-funded at closing (the “Per Share Purchase Price”). In the Private Placement, the Purchasers tendered U.S. dollars, USD Coin (USDC) or Tether (USDT) to the Company
as consideration for the Securities. The Private Placement closed on September 10, 2025. We received aggregate proceeds of approximately
$1.65 billion, before deducting placement agent fees and expenses.

The unfunded exercise price of each Pre-Funded
Warrant equals $0.00001 per underlying Pre-Funded Warrant Share. The exercise price and the number of shares of Common Stock issuable
upon exercise of each Pre-Funded Warrant is subject to appropriate adjustment in the event of certain stock dividends, stock splits, stock
combinations, or similar events affecting our Common Stock. The Pre-Funded Warrants are exercisable in cash or by means of a cashless
exercise and will not expire until the date such Pre-Funded Warrants are fully exercised. The Pre-Funded Warrants may not be exercised
if the aggregate number of shares of Common Stock beneficially owned by the holder thereof (together with its affiliates) immediately
following such exercise would exceed a specified beneficial ownership limitation; provided, however, that a holder may increase or
decrease the beneficial ownership limitation by giving notice to the Company (61 days’ notice for increases), but not to any percentage
in excess of 9.99%.

In connection with the Private Placement, we
entered into a registration rights agreement (the “Registration Rights Agreement”)
with the Purchasers, providing for the registration for resale of the Shares, the Advisor Shares (as defined below), the Lead Investor
Shares (as defined below), the Pre-Funded Warrant Shares and the shares of Common Stock underlying each of the Advisor Warrants and Lead
Investor Shares on an effective registration statement, pursuant to a registration statement to be filed with the SEC no later than October
10, 2025.

We intend to use the net proceeds from the Private
Placement to purchase SOL, for working capital and any future transactions, for the payment of transaction costs and for the establishment
of our cryptocurrency treasury operations.

| 10 |

Galaxy Strategic Advisor Agreement

On September 6, 2025, we entered into a Strategic
Advisor and Lead Investor Agreement (the “Strategic Advisor Agreement”) with Galaxy Digital LP (“Galaxy”)
pursuant to which