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.
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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.
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