Forward Industries issues $1M Series B Preferred stock, convertible at $4.50

Forward Industries, Inc.

Raised $1M via issuance of 1M shares of Series B Preferred to C/M Capital Master Fund and WVP-Emerging Manager.
Series B Preferred carries 10% annual dividend payable quarterly; convertible into common at $4.50 per share.
Investors also received warrants to purchase 111,111 shares of common at $6.50 per share.
Proceeds will be used for working capital and general corporate purposes.
Registration rights agreement requires filing of resale registration statement within 90 days.

Key facts

Extracted from this filing and checked against the source text.

Governance Changes SEC 8-K Item 5.03/5.05/5.06 confidence 0.9

Forward Industries, Inc.: Designated 1,000,000 shares of Series B Preferred Stock via Certificate of Amendment (effective 2025-05-21).

Change: charter amendment
Effective: 2025-05-21

Exact text from the filing

On May 21, 2025, the Company filed a Certificate of Amendment to the Certificate of Incorporation (“Certificate of Designation”) designating 1,000,000 shares of Series B.

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Forward Industries, Inc. filing history →

Source: SEC EDGAR

accession 0001683168-25-003989

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