Foresight Autonomous Holdings (NASDAQ: FRSX) (TASE: FRSX), an innovator in automotive vision systems, has entered into definitive agreements with institutional investors and insiders, including the company CEO through a company under his control, for the purchase and sale of 4,500,000 of its American Depositary Shares (“ADSs”). According to the announcement, the ADSs were sold for $1 each, resulting in gross proceeds of the offering totaling an estimated $4.5 million before fees and other offering expenses are deducted. The company noted that it plans to use the funds for working capital and other general corporate purposes. Foresight anticipates the offering will close on or about Dec. 11, 2023. Alliance Global Partners is acting as the sole placement agent for the offering.
To view the full press release, visit https://ibn.fm/draU8
About Foresight Autonomous Holdings Ltd.
Foresight Autonomous Holdings is a technology company developing smart multispectral vision software solutions and cellular-based applications. Through the company’s wholly owned subsidiaries — Foresight Automotive Ltd., Foresight Changzhou Automotive Ltd. and Eye-Net Mobile Ltd. — Foresight develops both “in-line-of-sight” vision systems and “beyond-line-of-sight” accident-prevention solutions. Foresight vision solutions include modules of automatic calibration and dense three-dimensional (“3D”) point cloud that can be applied to different markets such as automotive, defense, autonomous vehicles and heavy industrial equipment. Eye-Net Mobile’s cellular-based solution suite provides real-time, precollision alerts to enhance road safety and situational awareness for all road users in the urban mobility environment by incorporating cutting-edge AI technology and advanced analytics. For more information, visit the company’s website at www.ForesightAuto.com.
NOTE TO INVESTORS: The latest news and updates relating to FRSX are available in the company’s newsroom at http://ibn.fm/FRSX
InvestorWire (“IW”) is a specialized communications platform with a focus on advanced wire-grade press release syndication for private and public companies and the investment community. It is one of 60+ brands within the Dynamic Brand Portfolio @ IBN that delivers: (1) access to a vast network of wire solutions via InvestorWire to efficiently and effectively reach a myriad of target markets, demographics and diverse industries; (2) article and editorial syndication to 5,000+ outlets; (3) enhanced press release enhancement to ensure maximum impact; (4) social media distribution via IBN to millions of social media followers; and (5) a full array of tailored corporate communications solutions. With broad reach and a seasoned team of contributing journalists and writers, IW is uniquely positioned to best serve private and public companies that want to reach a wide audience of investors, influencers, consumers, journalists and the general public. By cutting through the overload of information in today’s market, IW brings its clients unparalleled recognition and brand awareness. IW is where breaking news, insightful content and actionable information converge.
For more information, please visit https://www.InvestorWire.com
InvestorWire is powered by IBN