Company: FWDI
Filing Date: 2025-06-17
Form Type: S-3/A
Source: 0001683168-25-004558
Chunk: 10

Company: Forward Industries, Inc.
Filing Date: 2025-06-17
Form: S-3/A
Chunk 10
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| · | if applicable, the designation and terms of the securities that the warrants are issued with and the number of warrants issued with each security;                                               |
| · | if applicable, the date from and after which the warrants and any securities issued with the warrants will be separately transferable;                                                           |
| · | the dates on which the right to exercise the warrants commences and expires;                                                                                                                     |
| · | if applicable, the minimum or maximum amount of the warrants that may be exercised at any one time;                                                                                              |
| · | if applicable, a discussion of material United States federal income tax considerations;                                                                                                         |
| · | anti-dilution provisions of the warrants, including adjustments for stock splits, combinations, reclassifications, reorganizations, mergers, consolidations, sales of assets, or similar events; |
| · | redemption or call provisions, if any, applicable to the warrants; and                                                                                                                           |
| · | any additional terms of the warrants, including terms, procedures and limitations relating to the exchange and exercise of the warrants.                                                         |

Exercise of warrants

Each warrant will entitle
the holder of the warrant to purchase the securities that we specify in the applicable prospectus supplement at the exercise price that
we describe in the applicable prospectus supplement. Holders may exercise warrants at any time up to 5:00 p.m. Eastern Time on the expiration
date set forth in the applicable prospectus supplement, unless otherwise specified in the warrant agreement. After the close of business
on the expiration date, unexercised warrants will automatically expire and become void. Holders may exercise warrants as set forth in
the prospectus supplement relating to the warrants being offered. Until a holder exercises the warrants to purchase any securities underlying
the warrants, the holder will not have any rights as a holder of the underlying securities by virtue of ownership of warrants.

| 5 |

<div align='center'>DESCRIPTION OF UNITS</div>

We may issue units comprised
of one or more of the other securities described in this prospectus or any prospectus supplement in any combination. Each unit will be
issued so that the holder of the unit will automatically become the holder of each security included in the unit, with all associated
rights and obligations of such securities. The unit agreement under which a unit is issued may provide that the securities included in
the unit may not be held or transferred separately, at any time or at any times before a specified date or upon the occurrence of a specified
event