Company: FWDI
Filing Date: 2025-09-11
Form Type: 424B5
Source: 0001683168-25-006851
Chunk: 9

Company: Forward Industries, Inc.
Filing Date: 2025-09-11
Form: 424B5
Chunk 9
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'>Forward Industries, Inc.

700 Veterans Memorial Highway, Suite 100

Hauppauge, New York 11788

(631) 547-3055</div>

| S-7 |

PROSPECTUS

<div align='center'>$50,000,000

Common Stock

Preferred Stock

Warrants

Units</div>

Forward Industries, Inc. intends
to offer and sell from time to time the securities described in this prospectus. The total offering price of the securities described
in this prospectus will not exceed a total of $50,000,000.

This prospectus describes some
of the general terms that apply to the securities. We will provide specific terms of any securities we may offer in supplements to this
prospectus. You should read this prospectus and any applicable prospectus supplement carefully before you invest. The prospectus supplement
also may add, update or change information contained or incorporated in this prospectus.

We may offer and sell these securities
to or through one or more underwriters, brokers or agents, or directly to purchasers on a continuous or delayed basis. The prospectus
supplement for each offering of securities will describe the plan of distribution for that offering. For general information about the
distribution of securities offered, see “Plan of Distribution” in this prospectus. The prospectus supplement also will set
forth the price to the public of the securities and the net proceeds that we expect to receive from the sale of such securities.

Our common stock is listed on
The Nasdaq Capital Market under the symbol “FORD.” On May 5, 2025, the last reported sales price of our common stock on The
Nasdaq Capital Market was $8.86 per share, 821,383 shares of our outstanding common stock were held by non-affiliates (our “public
float”), and the aggregate market value of our public float based on the aforementioned price was $7,277,453. Pursuant to General
Instruction I.B.6 of Form S-3, in no event will we sell securities registered on this Registration Statement in a public primary offering
for an aggregate offering amount exceeding one-third of our public float in any 12-month period so long as our public float remains below
$75 million, in each case calculated in accordance with such instruction. During the 12 calendar months prior to and including the date
of this prospectus, we have offered no shares of common stock pursuant to General Instruction I.B.6 of Form S