Company: FWDI
Filing Date: 2025-11-03
Form Type: 424B5
Source: 0001683168-25-007923
Chunk: 85

Company: Forward Industries, Inc.
Filing Date: 2025-11-03
Form: 424B5
Chunk 85
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 and the compensation of the Agent will be deemed to be underwriting commissions or discounts. We have also agreed to provide
indemnification and contributions to the Agent against certain liabilities, including liabilities under the Securities Act and the Securities
Exchange Act of 1934, as amended (the “Exchange Act”).

Our Common Stock is listed on The Nasdaq Capital
Market (“Nasdaq”) under the symbol “FORD.”

On September 15, 2025, the last reported sale
price of our Common Stock on the Nasdaq was $39.00 per share.

Investing in our Common Stock involves significant risks. See “ Risk Factors” beginning on page 14 of this prospectus and the risk factors that are incorporated by reference into this prospectus from our filings made with the Securities and Exchange Commission (the “ SEC”) pursuant to the Exchange Act for a discussion of the factors you should carefully consider before deciding to invest in our Common Stock.

Neither the SEC nor any
state securities commission has approved or disapproved of our Common Stock or determined if this prospectus is accurate, truthful or
complete. Any representation to the contrary is a criminal offense.

<div align='center'>Cantor

The date of this prospectus is September 16, 2025.</div>

| 40 |

<div align='center'>TABLE OF CONTENTS

Prospectus</div>

| ABOUT THIS PROSPECTUS               |  2 |
| WHERE YOU CAN FIND MORE INFORMATION |  3 |
| INCORPORATION BY REFERENCE          |  4 |
| FORWARD-LOOKING STATEMENTS          |  5 |
| PROSPECTUS SUMMARY                  |  6 |
| THE OFFERING                        | 13 |
| RISK FACTORS                        | 14 |
| USE OF PROCEEDS                     | 27 |
| DIVIDEND POLICY                     | 28 |
| PLAN OF DISTRIBUTION                | 29 |
| LEGAL MATTERS                       | 30 |
| EXPERTS                             | 30 |

| i |

<div align='center'>ABOUT THIS PROSPECTUS</div>

This prospectus is part of an automatic shelf
registration statement on Form S-3 that we have filed with the SEC as a “well-known seasoned issuer” as defined in Rule 405
under the Securities Act. Under this prospectus, we may from time to time sell shares our Common Stock having an aggregate offering price
of up to $4 billion at prices and on terms to be determined