---
schema_version: "secwatch.filing_event.v1"
accession: "0001683168-26-001997"
form_type: "8-K"
ticker: "FWDI"
cik: "0000038264"
company_name: "Forward Industries, Inc."
filed_at: "2026-03-19T23:59:59+00:00"
generated_at: "2026-05-15T09:45:08.136783+00:00"
event_type: "other_material"
sentiment: "positive"
materiality_score: 0.85
calibrated_materiality_score: 0.85
confidence: "high"
source: SEC EDGAR
---

# Forward Industries repurchases 6.16M shares for $27.4M, cuts SG&A 45%, borrows $40M at 3.4%

## Summary
- Repurchased 6,164,324 shares for ~$27.4M from an institutional investor; shares outstanding reduced to 76,977,809.
- Borrowed $40M under loan agreement with Galaxy Digital LLC at 3.4% APR, avg maturity 4.9 months, secured by fwdSOL.
- SOL-per-share increased from 0.0624 to 0.0662, a 29% annualized increase per company.
- Cost reduction plan aims to cut SG&A (excl. stock comp & design) ~45% from $6.5M to $3.6M by fiscal Q3.
- Company expects no material charges from the cost reduction plan.

## SEC filing metadata
- accession: 0001683168-26-001997
- form_type: 8-K
- ticker: FWDI
- cik: 0000038264
- company_name: Forward Industries, Inc.
- filed_at: 2026-03-19T23:59:59+00:00
- event_type: other_material
- sentiment: positive
- materiality_score: 0.85
- calibrated_materiality_score: 0.85
- confidence: high
- sec_items: 1.01, 2.03, 7.01, 2.05, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/38264/000168316826001997/0001683168-26-001997-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/38264/000168316826001997/forward_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001683168-26-001997
- JSON: https://secwatch.observer/filing/0001683168-26-001997.json
- Plain text: https://secwatch.observer/filing/0001683168-26-001997.txt

## Key facts
- Debt Financings
  Forward Industries, Inc. incurred loan of $40,000,000 with Galaxy Digital LLC at weighted average interest rate of 3.4% maturing weighted average maturity of 4.9 months.
  - Instrument: loan
  - Principal: $40,000,000
  - Counterparty: Galaxy Digital LLC
  - Rate: weighted average interest rate of 3.4%
  - Maturity: weighted average maturity of 4.9 months
  - Event: incurrence
  source text: The Company entered into multiple term sheets on March 13, 2026, which became effective March 16, 2026 pursuant to the Loan Agreement setting forth the terms of the individual loans for a total of $40,000,000 which have a weighted average maturity of 4.9 months and a weighted average interest rate of 3.4%.
  evidence_url: https://www.sec.gov/Archives/edgar/data/38264/000168316826001997/0001683168-26-001997-index.htm
- Material Agreements
  Forward Industries, Inc. entered into Securities Repurchase Agreement with an institutional investor valued at approximately $27.4 million (effective 2026-03-18).
  - Action: entry
  - Agreement: equity purchase
  - Counterparty: an institutional investor
  - Value: approximately $27.4 million
  - Effective: 2026-03-18
  source text: On March 18, 2026, Forward Industries, Inc. (the “Company”) entered into a Securities Repurchase Agreement (the “Repurchase Agreement”) with an institutional investor (the “Seller”), pursuant to which the Company repurchased 6,164,324 shares of its common stock (the “Shares”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/38264/000168316826001997/0001683168-26-001997-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.