Company: FWDI
Filing Date: 2025-11-03
Form Type: 424B5
Source: 0001683168-25-007923
Chunk: 78

Company: Forward Industries, Inc.
Filing Date: 2025-11-03
Form: 424B5
Chunk 78
---
 adjustment of the number or amount of securities receivable upon exercise of the subscription    
 rights or the exercise price of the subscription rights;                                                            |
| · | any other terms of the subscription rights, including the terms, procedures and limitations relating to the         
 exchange and exercise of the subscription rights;                                                                   |
| · | the date on which the right to exercise the subscription rights shall commence, and the date on which the           
 subscription rights shall expire;                                                                                   |
| · | the extent to which the subscription rights may include an over-subscription privilege with respect to unsubscribed 
 securities; and                                                                                                     |
| · | if applicable, the material terms of any standby underwriting or purchase arrangement entered into by us            
 in connection with the offering of subscription rights.                                                             |

The description in an accompanying
prospectus supplement of any subscription rights we offer will not necessarily be complete and will be qualified in its entirety by reference
to the applicable subscription rights certificate or subscription rights agreement, which will be filed with the SEC if we offer subscription
rights. For more information on how you can obtain copies of any subscription rights certificate or subscription rights agreement if we
offer subscription rights, see “Where You Can Find More Information.” We urge you to read the applicable subscription rights
certificate, the applicable subscription rights agreement and any accompanying prospectus supplement in their entirety.

| 32 |

<div align='center'>DESCRIPTION
OF PURCHASE CONTRACTS AND PURCHASE UNITS</div>

We may issue purchase contracts,
including contracts obligating holders to purchase from us, and obligating us to sell to the holders, a specified number of shares of
our common stock or shares of our preferred stock at a future date or dates, which we refer to in this prospectus as purchase contracts.
The price of the securities and the number of securities may be fixed at the time the purchase contracts are issued or may be determined
by reference to a specific formula set forth in the purchase contracts and may be subject to adjustment under anti-dilution formulas.
The purchase contracts may be issued separately or as part of units consisting of a stock purchase contract and our debt securities or
preferred securities or debt obligations of third parties, including U.S. treasury securities, or any combination of the foregoing, securing
the holders’ obligations to purchase the securities under the purchase contracts, which we refer to herein as purchase units. The
purchase contracts may require holders to secure their obligations under the purchase contracts in a specified manner. The purchase contracts
also may require us to make periodic payments to the