Company: FWDI
Filing Date: 2025-11-14
Form Type: 424B5
Source: 0001683168-25-008451
Chunk: 22

Company: Forward Industries, Inc.
Filing Date: 2025-11-14
Form: 424B5
Chunk 22
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 distributions to members, partners, shareholders or other equityholders of the selling shareholders; |

| · | ordinary brokerage transactions and transactions in which the broker-dealer solicits purchasers; |

| · | block trades in which the broker-dealer will attempt to sell the Shares as agent, but may position and 
 resell a portion of the block as principal to facilitate the transaction;                              |

| · | purchases by a broker-dealer as principal and resale by the broker-dealer for its account; |

| · | an exchange distribution in accordance with the rules of the applicable exchange; |

| · | privately negotiated transactions; |

| · | short sales and settlement of short sales entered into after the effective date of the registration statement 
 of which this prospectus supplement is a part;                                                                |

| · | through the writing or settlement of options or other hedging transactions, whether through an options 
 exchange or otherwise;                                                                                 |

| · | broker-dealers may agree with the selling shareholders to sell a specified number of such Shares at a 
 stipulated price per share;                                                                           |

| · | a combination of any such methods of sale; and |

| · | any other method permitted pursuant to applicable law. |

The selling shareholders may,
from time to time, pledge or grant a security interest in some or all of the Shares owned by them and, if they default in the performance
of their secured obligations, the pledgees or secured parties may offer and sell the Shares, from time to time, under this prospectus
supplement, or under an amendment to this prospectus supplement under Rule 424(b)(3) or other applicable provision of the Securities Act,
by amending the list of selling shareholders to include the pledgee, transferee or other successors in interest as selling shareholders
under this prospectus supplement. The selling shareholders also may transfer the Shares in other circumstances, in which case the transferees,
pledgees or other successors in interest will be the selling shareholders for purposes of this prospectus supplement.

In connection with the sale
of our Shares or interests therein, the selling shareholders may enter into hedging transactions with broker-dealers or other financial
institutions, which may in turn engage in short sales of the Shares in the course of hedging the positions they assume. The selling shareholders
may also sell Shares short and deliver these securities to close out their short positions, or loan or pledge the Shares to broker-dealers
that in turn may sell these securities. The selling shareholders may also enter into option or other transactions