Company: FWDI
Filing Date: 2025-11-10
Form Type: 424B5
Source: 0001683168-25-008141
Chunk: 44

Company: Forward Industries, Inc.
Filing Date: 2025-11-10
Form: 424B5
Chunk 44
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 we engaged Galaxy to serve as our strategic advisor with respect to the Private Placement. In consideration of Galaxy’s
services, we issued to Galaxy in addition to the Securities acquired by Galaxy pursuant to the Securities Purchase Agreement 1,783,519
of Pre-Funded Warrants and 4,458,796 warrants (the “Advisor Warrants”) to purchase an amount of shares of our Common
Stock (the “Advisor Shares”). The exercise price per share of the Advisor Warrants shall equal one penny ($0.01) per
share and shall be exercisable as follows: (1) one-third (1/3) of the Advisor Warrants shall be exercisable on and after the first date
on which the closing trading price of the Company’s Common Stock on its principal stock exchange is equal to or greater than 150%
of the cash Per Share Purchase Price for 20 out of 30 trading days following the effectiveness of this registration statement; (2) one-third
(1/3) of the Advisor Warrants shall be exercisable on and after the first date on which the closing trading price of the Company’s
Common Stock on its principal stock exchange is equal to or greater than 200% of the cash Per Share Purchase Price for 20 out of 30 trading
days following the effectiveness of this registration statement; and (3) one-third (1/3) of the Advisor Warrants shall be exercisable
on and after the first date on which the closing trading price of the Company’s Common Stock on its principal stock exchange is
equal to or greater than 250% of the cash Per Share Purchase Price for 20 out of 30 trading days following the effectiveness of this registration
statement.

Lead Investments Agreement

On September 6, 2025, we entered into a Lead Investor
Agreement (the “Lead Investor Agreement”) with J Digital 6 Cayman Ltd. (“Jump Crypto”) and Multicoin
Capital Master Fund, LP (“Multicoin,” and together with Galaxy and Jump Crypto, the “Sponsors”)
to secure the commitment of Jump Crypto and Multicoin in the Private Placement. In consideration of Jump Crypto and Multicoin’s
participation, we issued to each of Jump Crypto and Multicoin in addition to the Securities acquired by Jump Crypto and Multicoin pursuant
to the Securities Purchase Agreement 1,783,519 shares of our Common Stock (the “Lead Investor Shares”) and 4,458,796
warrants to purchase