Company: FWDI
Filing Date: 2025-06-24
Form Type: 424B3
Source: 0001683168-25-004724
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Company: Forward Industries, Inc.
Filing Date: 2025-06-24
Form: 424B3
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PROSPECTUS

Filed Pursuant to Rule 424(b)(3)

Registration No. 333-287906

<div align='center'>Forward Industries, Inc.

273,000 Shares of Common Stock</div>

This prospectus relates to the
potential resale from time to time by C/M Capital Master Fund, LP (the “Selling Stockholder”) of up to 273,000 shares of common
stock, par value $0.01 per share. The shares of common stock to which this prospectus relates consist of shares that have been or may
be issued by us to the Selling Stockholder pursuant to a Securities Purchase Agreement, dated as of May 16, 2025, by and between us and
the Selling Stockholder (the “Purchase Agreement”), establishing an equity line of credit. Such shares of our common stock
include (i) up to 245,571 shares of common stock, or the Purchase Shares, that we may elect, in our sole discretion, subject to the restrictions
and satisfaction of the conditions in the Purchase Agreement, to issue and sell to the Selling Stockholder, from time to time from and
after the Commencement Date (as defined below) under the Purchase Agreement, and subject to applicable stock exchange rules and (ii) up
to 27,429 shares of common stock, or the Commitment Shares, that have or may be issued to the Selling Stockholder in connection with related
issuances and sales of Purchase Shares as consideration for the Selling Stockholder’s execution and delivery of the Purchase Agreement.

The actual number of shares of
our common stock issuable will vary depending on the then-current market price of shares of our common stock sold to the Selling Stockholder
under the Purchase Agreement, but will not exceed the number set forth in the preceding paragraphs unless we file an additional registration
statement under the Securities Act of 1933 (“Securities Act”), with the Securities and Exchange Commission (“SEC”),
and we obtain the approval of the issuance of shares of common stock by our stockholders in accordance with the applicable stock exchange
rules.

Under the applicable rules of
The Nasdaq Stock Market LLC (“Nasdaq”), in no event may we issue to the Selling Stockholder shares of our common stock representing
more than 19.99% of the total number of shares of common stock outstanding as of the date of the Purchase Agreement, unless (i) we obtain
the approval of the issuance of such shares by our stockholders in accordance with