Company: FWDI
Filing Date: 2025-06-24
Form Type: 424B3
Source: 0001683168-25-004724
Chunk: 12

Company: Forward Industries, Inc.
Filing Date: 2025-06-24
Form: 424B3
Chunk 12
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 control the timing and amount of any sales of our common
stock to the Selling Stockholder under the Purchase Agreement. Sales of our common stock, if any, to the Selling Stockholder under the
Purchase Agreement will depend upon market conditions, our capital needs, alternative financing options, and other factors to be determined
by us in our sole discretion. We may ultimately decide to sell to the Selling Stockholder all, some or none of the common stock that may
be available for us to sell to the Selling Stockholder pursuant to the Purchase Agreement. Accordingly, we cannot guarantee that we will
be able to sell all of the Commitment Amount or how much in proceeds we may obtain under the Purchase Agreement. If we cannot sell securities
under the Committed Equity Financing, we may be required to utilize more costly and time-consuming means of accessing the capital markets,
which could have a material adverse effect on our liquidity and cash position.

Because the purchase price
per share of common stock to be paid by the Selling Stockholder for the common stock that we may elect to sell to the Selling Stockholder
under the Purchase Agreement, if any, will fluctuate based on the market prices of our common stock at the time we make such election,
it is not possible for us to predict, as of the date of this prospectus and prior to any such sales, the number of shares of common stock
that we will sell to the Selling Stockholder under the Purchase Agreement, the purchase price per share that the Selling Stockholder will
pay for shares of common stock purchased from us under the Purchase Agreement, or the aggregate gross proceeds that we will receive from
those purchases the Selling Stockholder under the Purchase Agreement.

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We
are registering 273,000 shares of our common stock under this prospectus. As of June 9,
2025, there were 1,125,998 shares of common stock outstanding. If all of the 273,000 shares
of our common stock offered for resale by the Selling Stockholder under this prospectus were
issued and outstanding as of June 9, 2025, such shares would represent approximately
19.9% of total number of shares of our common stock outstanding.

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
in this offering and the number of shares of our common stock we ultimately elect to sell to the Selling Stockholder under the Purchase
Agreement