Company: FWDI
Filing Date: 2025-06-10
Form Type: S-1
Source: 0001683168-25-004372
Chunk: 13

Company: Forward Industries, Inc.
Filing Date: 2025-06-10
Form: S-1
Chunk 13
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ly affect our company. Additional risks not presently known, or currently deemed immaterial, also could materially and adversely
affect our financial condition, results of operations, business and prospects.

Risks Related to the Committed Equity Financing

It is not possible to predict the actual number of shares of our common stock, if any, we will sell under the Purchase Agreement, or the actual gross proceeds resulting from those sales or the dilution to you from those sales. Further, we may not have access to the full amount available under the Purchase Agreement.

Pursuant to the Purchase Agreement,
the Selling Stockholder shall, subject to the restrictions and satisfaction of the conditions in the Purchase Agreement, purchase from
us up to the lesser of (a) $35,000,000 of shares of common stock and (b) the Exchange Cap, upon the terms and subject to the conditions
and limitations set forth in the Purchase Agreement (such amount, the “Commitment Amount”); provided, however, that such limitations
will not apply if we obtain stockholder approval to issue additional shares of common stock and, accordingly, we have registered 273,000
shares for issuance under the Purchase Agreement and resale pursuant to this prospectus, assuming that such stockholder approval is obtained.
The shares of our common stock that may be issued under the Purchase Agreement may be sold, subject to the restrictions and satisfaction
of the conditions in the Purchase Agreement, by us to the Selling Stockholder at our discretion from time to time from the Commencement
Date (as defined below) until the earliest to occur of (i) the first day of the month next following the 36-month anniversary of the Commencement
Date, (ii) the date on which the Selling Stockholder shall have purchased the Commitment Amount, and (iii) the Purchase Agreement is otherwise
terminated in accordance with its terms.

We do not have a right to
commence any sales of common stock to the Selling Stockholder under the Purchase Agreement until the time when all of the conditions to
our right to commence sales of common stock to the Selling Stockholder set forth in the Purchase Agreement have been satisfied, or the
Commencement Date, including the effectiveness of the registration statement of which this prospectus forms a part. Over the 36-month
period from and after the Commencement Date, we will generally have the right to control the timing and amount of any sales of our common
stock to the Selling Stockholder under the Purchase Agreement. Sales of our