Company: FWDI
Filing Date: 2025-11-03
Form Type: 424B5
Source: 0001683168-25-007923
Chunk: 76

Company: Forward Industries, Inc.
Filing Date: 2025-11-03
Form: 424B5
Chunk 76
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ary,
subject to the terms of the depositary agreement, the owner of the depositary shares may demand delivery of the number of whole shares
of preferred stock and all money and other property, if any, represented by those depositary shares. Partial shares of preferred stock
will not be issued. If the depositary receipts delivered by the holder evidence a number of depositary shares in excess of the number
of depositary shares representing the number of whole shares of preferred stock to be withdrawn, the Bank Depositary will deliver to such
holder at the same time a new depositary receipt evidencing the excess number of depositary shares. Holders of withdrawn preferred stock
may not thereafter deposit those shares under the depositary agreement or receive depositary receipts evidencing depositary shares therefor.

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<div align='center'>DESCRIPTION
OF THE WARRANTS</div>

We may issue warrants for the
purchase of common stock. Warrants may be issued independently or together with other securities and may be attached to or separate from
any offered securities. Each series of warrants will be issued under a separate warrant agreement. Set forth below is a brief summary
of the general terms and provisions of the warrants that we may issue from time to time. Additional terms of the warrants and the applicable
warrant agreement will be described in the applicable prospectus supplement.

The following descriptions,
and any description of the warrants included in a prospectus supplement, may not be complete and is subject to and qualified in its entirety
by reference to the terms and provisions of the applicable warrant agreement, which we will file with the SEC in connection with any offering
of warrants.

General

The prospectus supplement relating
to a particular issue of warrants will describe the terms of the warrants, including the following:

| · | the title of the warrants;                                                                                         |
| · | the offering price of the warrants, if any;                                                                        |
| · | the currency or currencies, including composite currencies, in which the purchase price and/or exercise price      
 of the warrants may be payable;                                                                                    |
| · | the aggregate number of the warrants;                                                                              |
| · | the exercise price and the amount of securities you will receive upon exercise;                                    |
| · | the procedure for exercise of the warrants and the circumstances, if any, that will cause the warrants to          
 be automatically exercised;                                                                                        |
| · | the terms of the security that may be purchased upon exercise of the warrants;                                     |
| · | anti-dilution provisions of the warrants, including