J Digital 6 Cayman Ltd. Acquires Significant Stake in Forward Industries, Inc.

J Digital 6 Cayman Ltd., along with its affiliates, has acquired a significant stake in Forward Industries, Inc., representing approximately 9.3% of the company's outstanding common stock. The acquisition was made through a private placement, where J Digital 6 Cayman purchased shares at $18.50 per share and also received pre-funded warrants. The total investment amounted to $114,040,000. The Reporting Persons, including J Digital 6 Cayman, JD6 Delaware, DYSO, PXG, William DiSomma, and Paul Gurinas, have indicated that the purchase was for investment purposes. They may consider additional purchases or sales of Forward Industries' securities based on market conditions and other factors. The filing also details various agreements, including a Securities Purchase Agreement, Registration Rights Agreement, and Lead Investor Agreement, which outline the terms of the investment and related rights.