Company: FWDI
Filing Date: 2025-11-10
Form Type: 424B5
Source: 0001683168-25-008141
Chunk: 73

Company: Forward Industries, Inc.
Filing Date: 2025-11-10
Form: 424B5
Chunk 73
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purposes, could, under some circumstances, have the effect of delaying, deferring or preventing a change in control of the Company. For
a description of how future issuances of our preferred stock could affect the rights of our stockholders, see “Certain Provisions
of New York Law and of Our Charter and Bylaws—Certificate of Incorporation and Bylaws,” below.

A prospectus supplement relating
to any series of preferred stock being offered will include specific terms relating to the offering. Such prospectus supplement will include:

| · | the title and stated or par value of the preferred stock;                                                  |
| · | the number of shares of the preferred stock offered, the liquidation preference per share and the offering 
 price of the preferred stock;                                                                              |
| · | the dividend rate(s), period(s) and/or payment date(s) or method(s) of calculation thereof applicable to   
 the preferred stock;                                                                                       |

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| · | whether dividends shall be cumulative or non-cumulative and, if cumulative, the date from which dividends      
 on the preferred stock shall accumulate;                                                                       |
| · | the provisions for a sinking fund, if any, for the preferred stock;                                            |
| · | any voting rights of the preferred stock;                                                                      |
| · | the provisions for redemption, if applicable, of the preferred stock;                                          |
| · | any listing of the preferred stock on any securities exchange;                                                 |
| · | the terms and conditions, if applicable, upon which the preferred stock will be convertible into our common    
 stock, including the conversion price or the manner of calculating the conversion price and conversion period; |
| · | if appropriate, a discussion of federal income tax consequences applicable to the preferred stock; and         |
| · | any other specific terms, preferences, rights, limitations or restrictions of the preferred stock.             |

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<div align='center'>DESCRIPTION
OF DEPOSITARY SHARES</div>

We may offer depositary receipts
representing fractional shares of our preferred stock, rather than full shares of preferred stock. The shares of preferred stock represented
by depositary shares will be deposited under a depositary agreement between us and a bank or trust company that meets certain requirements
and is selected by us (the “Bank Depositary”). Each owner of a depositary share will be entitled to all the rights and preferences
of the preferred stock represented by the depositary share.

The description in an accompanying
prospectus supplement of any depositary shares we offer