Company: FWDI
Filing Date: 2025-05-22
Form Type: 8-K
Source: 0001683168-25-003941
Chunk: 3

Company: Forward Industries, Inc.
Filing Date: 2025-05-22
Form: 8-K
Item: Item 1.01
Chunk 3
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, VWAP Purchase or Additional VWAP Purchase, the purchase price
for such applicable Fixed Purchase, VWAP Purchase and Additional VWAP Purchase would be reduced to the New Issuance Price, subject to
the terms and conditions set forth in the ELOC Agreement.

Under the ELOC Agreement, in no event may the
aggregate amount of Purchase Shares submitted in any single or combination of VWAP Purchase notices and/or Additional VWAP Purchase notices
on a particular date require a payment from the Purchaser to us that exceeds $2,000,000, unless such limitation is waived by the Purchaser.

In the ELOC Agreement, the Purchaser represented
to the Company, among other things, that it is an “accredited investor” (as such term is defined in Rule 501(a)(3) of Regulation
D promulgated under the Securities Act of 1933 (the “ Securities Act”). The securities referred to in this Current Report on
Form 8-K are being issued and sold by the Company to the Purchaser in reliance upon the exemptions from the registration requirements
of the Securities Act afforded by Section 4(a)(2) of the Securities Act and Rule 506(b) of Regulation D promulgated thereunder. The securities
may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements. Neither
this Current Report on Form 8-K, nor the exhibits attached hereto, is an offer to sell or the solicitation of an offer to buy the securities
described herein.

The foregoing descriptions of the Agreement, the
ELOC Agreement and the Registration Rights Agreement do not purport to be complete and are qualified in their entirety by reference to
the full text of such agreements, copies of which are attached hereto as Exhibits 10.1, 10.4 and 10.5, respectively, and each of which
is incorporated herein in its entirety by reference. The representations, warranties and covenants contained in such agreements were made
only for purposes of such agreements and as of specific dates, were solely for the benefit of the parties to such agreements and may be
subject to limitations agreed upon by the contracting parties.

Item 1.02 Termination of a Material Definitive
Agreement.