Company: FWDI
Filing Date: 2025-11-10
Form Type: 424B5
Source: 0001683168-25-008141
Chunk: 30

Company: Forward Industries, Inc.
Filing Date: 2025-11-10
Form: 424B5
Chunk 30
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 effective until the earlier of: (i) the date on which the selling shareholders shall
have resold or otherwise disposed of all the Shares covered by this prospectus supplement and (ii) the date on which the Shares covered
by this prospectus supplement no longer constitute “Registrable Securities” as such term is defined in the Registration Rights
Agreement, such that they may be resold by the selling shareholders without registration and without regard to any volume or manner-of-sale
limitations and without current public information pursuant to Rule 144 under the Securities Act or any other rule of similar effect.

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<div align='center'>LEGAL
MATTERS</div>

The validity of the securities
offered hereby will be passed upon for us by Nason, Yeager, Gerson, Harris & Fumero, P.A., Palm Beach Gardens, Florida.

<div align='center'>EXPERTS</div>

The consolidated financial
statements of Forward Industries, Inc. and Subsidiaries for the years ended September 30, 2024 and 2023, have been audited by CohnReznick
LLP, independent registered public accounting firm, as set forth in their report thereon appearing in Forward Industries, Inc. and Subsidiaries’
Annual Report on Form 10-K for the year ended September 30, 2024, and incorporated by reference herein. Such consolidated financial statements
are incorporated by reference herein in reliance upon such report, which includes an explanatory paragraph on Forward Industries, Inc.
and Subsidiaries’ ability to continue as a going concern, given on the authority of such firm as experts in accounting and auditing.

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PROSPECTUS

<div align='center'>FORWARD INDUSTRIES, INC.

Common Stock

Preferred Stock

Depositary Shares

Warrants

Subscription Rights

Purchase Contracts

Units</div>

We may offer and sell from time to time shares
of our common stock, shares of our preferred stock, depositary shares, warrants, subscription rights, purchase contracts or units, or
any combination thereof, in one or more offerings in amounts, at prices and on terms that we determine at the time of the offering.

Each time we offer securities pursuant to this
prospectus, we will provide a prospectus supplement containing more information about the particular offering together with this prospectus.
The prospectus supplement also may add, update or change information contained in this prospectus. This prospectus may not be used to