Company: FWDI
Filing Date: 2025-11-10
Form Type: 424B5
Source: 0001683168-25-008141
Chunk: 31

Company: Forward Industries, Inc.
Filing Date: 2025-11-10
Form: 424B5
Chunk 31
---

offer and sell securities without a prospectus supplement.

These securities may be sold on a continuous or
delayed basis directly to or through agents, dealers or underwriters as designated from time to time, or through a combination of these
methods. If any agents, dealers or underwriters are involved in the sale of any of the securities, their names and any applicable purchase
price, fee, commission or discount arrangement between or among them will be set forth, or will be calculable from the information set
forth, in the applicable prospectus supplement. See the sections of this prospectus entitled “About this Prospectus” and “Plan
of Distribution” for more information.

Our common stock is traded on The Nasdaq Capital
Market under the symbol “FORD.” If we decide to list or seek a quotation for any other securities, the prospectus supplement
relating to those securities will disclose the exchange or market on which those securities will be listed or quoted.

Investing in these securities involves significant risks. We strongly recommend that you read carefully the risks we 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 PRO