Company: FWDI
Filing Date: 2025-09-08
Form Type: 8-K
Source: 0001683168-25-006734
Chunk: 5

Company: Forward Industries, Inc.
Filing Date: 2025-09-08
Form: 8-K
Item: Item 1.01
Chunk 5
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 price of the Company’s Common Stock on its principal stock exchange is equal to or greater than 150% of the cash Per Share
Purchase Price for 20 out of 30 trading days following the effectiveness of the Resale Registration Statement; (2) one-third (1/3) of
the Advisor Warrants shall be exercisable on and after the first date on which the closing trading price of the Company’s Common
Stock on its principal stock exchange is equal to or greater than 200% of the cash Per Share Purchase Price for 20 out of 30 trading days
following the effectiveness of the Resale Registration Statement; and (3) one-third (1/3) of the Advisor Warrants shall be exercisable
on and after the first date on which the closing trading price of the Company’s Common Stock on its principal stock exchange is
equal to or greater than 250% of the cash Per Share Purchase Price for 20 out of 30 trading days following the effectiveness of the Resale
Registration Statement. The Strategic Advisor Agreement also contains customary representations and warranties, confidentiality provisions
and limitations on liability.

   3  

Immediately following the issuance of the
Advisor Shares and the Advisor Warrants: (a) the Company has agreed to provide certain registration rights, including the filing
under the Securities Act of the Resale registration statement, which will include for registration the Advisor Shares and the Common
Stock issuable upon exercise of the Advisor Warrants, and (b) Galaxy has agree to execute and deliver a Lock-Up Agreement with
respect to the Advisor Shares and the Advisor Warrants; provided that the Lock-Up Period shall be (i) with respect to the Advisor
Shares, the period ending on the earlier of (y) the one year anniversary of the Closing Date and (z) from six months to one year
from Closing Date if, at any time following the date of issuance of the Advisor Shares, the VWAP (as defined in the Advisor
Warrants) of the Company’s Common Stock is equal to or greater than at least 150% of the cash Per Share Purchase Price for 20
out of 30 consecutive trading days, and (ii) with respect to the shares of Common Stock underlying the Advisor Warrants, the period
ending six months from the effectiveness of the Resale Registration Statement.

The Advisor Shares and Advisor Warrants are being
offered in reliance upon the exemption from the registration requirements of the Securities Act, pursuant to Section 4(a)(2) thereof and