Company: FWDI
Filing Date: 2025-06-24
Form Type: 424B3
Source: 0001683168-25-004724
Chunk: 24

Company: Forward Industries, Inc.
Filing Date: 2025-06-24
Form: 424B3
Chunk 24
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 No termination
of the Purchase Agreement by us or by the Selling Stockholder will affect any of our respective rights and obligations under (i) the Purchase
Agreement with respect to any pending Purchase, and both we and the Selling Stockholder have agreed to complete our respective obligations
with respect to any such pending Purchase under the Purchase Agreement, and (ii) the Registration Rights Agreement, which shall survive
any termination of the Purchase Agreement. Further, no termination of the Purchase Agreement will be deemed to release us or the Selling
Stockholder from any liability for intentional misrepresentation or willful breach of the Purchase Agreement, the Registration Rights
Agreement or any other related transaction documents.

Dilutive Issuances and Purchase Price Adjustment

For as long as the Selling
Stockholder owns any of our common stock, if within three business days immediately following a Purchase Date, we issue securities at
prices (the “New Issuance Price”) less than the prices to be paid by the Selling Stockholder in such Fixed Purchase, VWAP
Purchase or Additional VWAP Purchase, the purchase price for such applicable Fixed Purchase, VWAP Purchase or Additional VWAP Purchase
would be reduced to the New Issuance Price, subject to the terms and conditions set forth in the Purchase Agreement.

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No Short-Selling or Hedging

The Selling Stockholder has
agreed that neither it nor any entity managed or controlled by it will engage in, directly or indirectly, any (A) “short sale”
(as such term is defined in Rule 200 of Regulation SHO of the Exchange Act) of our common stock or (B) hedging transaction, which, with
respect to items (A) and (B), establishes a net short position with respect to the common stock, during the term of the Purchase Agreement.

Effects of Sales of our Common Stock under the Purchase Agreement on Our Stockholders

The common stock being registered
for resale in this offering may be issued and sold by us to the Selling Stockholder from time to time at our discretion, during the terms
described above. The resale by the Selling Stockholder of a significant quantity of shares registered for resale in this offering at any
given time, or the perception that these sales may occur, could cause the market price of our common stock to decline and to be highly
volatile. Sales of our common stock, if any, to the Selling Stockholder under the Purchase Agreement will be determined by us in our sole
discretion, subject to the satisfaction of