Company: FWDI
Filing Date: 2025-06-24
Form Type: 424B3
Source: 0001683168-25-004724
Chunk: 10

Company: Forward Industries, Inc.
Filing Date: 2025-06-24
Form: 424B3
Chunk 10
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 from the Selling Stockholder under the Purchase Agreement in connection  
 with sales of our shares of our common stock to the Selling Stockholder pursuant to the Purchase Agreement after the date of this prospectus. 
 However, the actual proceeds may be less than this amount depending on the number of shares of our common stock sold and the price at         
 which the shares of our common stock are sold. We intend to use of the net proceeds that we receive under the Purchase Agreement for          
 working capital and other general corporate purposes. However, as of the date of this prospectus, we cannot specify with certainty all        
 of the particular uses, and the respective amounts we may allocate to those uses, for any net proceeds we receive. See “Use                   
 of Proceeds” on page 16 of this prospectus.                                                                                                   |
| Stock Symbol                                                 |     | FORD                                                                                                                                          |
| Transfer Agent and Registrar                                 |     | Equiniti Trust Company, LLC                                                                                                                   |

Outstanding Shares

The number of shares of our
common stock to be outstanding after this offering assumes 1,125,998 shares of our common stock outstanding as of June 23, 2025, and excludes:

| · | 168,554 shares of our common stock issuable upon the exercise of options at a weighted-average exercise price of $8.06 per share; and |
| · | 118,611 shares of our common stock issuable upon the exercise of warrants outstanding at an average exercise price of $7.20.          |

Unless otherwise indicated, all information in this
prospectus assumes no exercise or settlement of outstanding options or warrants.

| 5 |

<div align='center'>RISK FACTORS</div>

Investing in our securities
involves risks. Before purchasing the securities offered by this prospectus you should carefully read the risk factors incorporated by
reference in this prospectus from our Annual Report on Form 10-K for the year ended September 30, 2024 filed with the SEC on December
27, 2024, as well as the risks, uncertainties and additional information set forth in the other documents incorporated by reference in
this prospectus that we file with the SEC after the date of this prospectus and which are deemed incorporated by reference in this
prospectus, and the information contained in any applicable prospectus supplement. For a description of these reports and documents, and
information about where you can find them, see “Incorporation of Certain Information by Reference.” The risks and uncertainties