Forward Industries shareholders approve 7.5x increase in authorized common shares to 300M

Forward Industries, Inc.

Authorized common shares increased from 40M to 300M at Sep 4 special meeting; passed with 1,256,216 votes for.
Proposal 2 approved: issuance of common stock upon conversion of Series A-1 Preferred without share cap (For: 1,016,060).
Proposal 3 (adjournment if needed) also passed; only 1,718,181 shares outstanding pre-authorization.
Massive potential dilution: new shares represent ~175x current outstanding if all issued.
All votes were cast at the special meeting; no broker non-votes for proposals 1 and 3.

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.: Increased authorized shares of common stock from 40,000,000 to 300,000,000 (effective 2025-09-04).

Change: charter amendment
Effective: 2025-09-04

Exact text from the filing

On September 4, 2025, at a special meeting of shareholders (the “Special Meeting”), the shareholders of Forward Industries, Inc. (the “Company”) approved an amendment to the Company’s certificate of incorporation (the “Amendment”) to authorize an increase in the number of authorized shares of the Company’s common stock from 40,000,000 shares to 300,000,000 shares.

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Forward Industries, Inc. filing history →

Source: SEC EDGAR

accession 0001683168-25-006732

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