Company: FWDI
Filing Date: 2025-09-17
Form Type: S-3ASR
Source: 0001683168-25-007043
Chunk: 3

Company: Forward Industries, Inc.
Filing Date: 2025-09-17
Form: S-3ASR
Chunk 3
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 describe in this prospectus as well as in any accompanying prospectus supplement and the risk factors that are incorporated by reference into this prospectus from our filings made with the Securities and Exchange Commission. See “ Risk Factors” beginning on page 14 of this prospectus.

Neither the Securities and Exchange Commission nor any state securities commission has approved or disapproved of these securities or determined if this prospectus is truthful or complete. Any representation to the contrary is a criminal offense.

<div align='center'>The date of this prospectus is September
16, 2025.</div>

<div align='center'>TABLE OF CONTENTS

Prospectus</div>

| ABOUT THIS PROSPECTUS                                            |  1 |
| WHERE YOU CAN FIND MORE INFORMATION                              |  3 |
| FORWARD-LOOKING STATEMENTS                                       |  4 |
| SUMMARY                                                          |  5 |
| RISK FACTORS                                                     | 14 |
| USE OF PROCEEDS                                                  | 25 |
| DIVIDEND POLICY                                                  | 26 |
| SELLING SECURITY HOLDERS                                         | 27 |
| DESCRIPTION OF CAPITAL STOCK                                     | 28 |
| DESCRIPTION OF DEPOSITARY SHARES                                 | 30 |
| DESCRIPTION OF THE WARRANTS                                      | 31 |
| DESCRIPTION OF SUBSCRIPTION RIGHTS                               | 32 |
| DESCRIPTION OF PURCHASE CONTRACTS AND PURCHASE UNITS             | 33 |
| DESCRIPTION OF THE UNITS                                         | 34 |
| CERTAIN PROVISIONS OF NEW YORK LAW AND OF OUR CHARTER AND BYLAWS | 35 |
| PLAN OF DISTRIBUTION                                             | 37 |
| INCORPORATION BY REFERENCE                                       | 37 |
| LEGAL MATTERS                                                    | 39 |
| EXPERTS                                                          | 39 |

| i |

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

To understand the terms of the securities offered
by this prospectus, you should carefully read this prospectus and any applicable prospectus supplement. You should also read the documents
referred to under the heading “Where You Can Find More Information” for information on us and the business conducted by us.

This prospectus is part of an automatic
registration statement on Form S-3 that we filed with the Securities and Exchange Commission (the “SEC”), as a
“well-known seasoned issuer” as defined in Rule 405 under the Securities Act of 1933, as amended (the
“Securities Act”) using a “shelf” registration process. Under this shelf