Foresight Autonomous Holdings (NASDAQ: FRSX) (TASE: FRSX) today announced that it has entered into private placement agreements with Israeli investors, including two prominent Israeli institutional investors, Meitav Dash Group and Psagot Investment House. Per the agreements, Meitav Dash Group will invest approximately $4.1 million, Psagot Investment House will invest approximately $1.4 million, and additional investors will invest a total of roughly $1.4 million, bringing the total of the private placements to $6.9 million. Foresight will issue 21,963,411 ordinary shares to the investors, at a price per share of approximately $0.56 per ordinary share, or $2.81 per ADS, subject to customary closing conditions. The company also agreed to issue warrants to purchase an aggregate of 21,963,411 ordinary shares exercisable for a period of 24 months at an exercise price of $0.80 per share, or $4 per ADS. Upon the closing of the private placements, Meitav Dash Group and Psagot Investment House will hold a total of approximately 5.45% and 1.85% of Foresight’s issued share capital respectively.
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Foresight Autonomous Holdings Ltd. (NASDAQ and TASE: FRSX), founded in 2015, is a technology company engaged in the design, development and commercialization of stereo/quad-camera vision systems and V2X cellular-based solutions for the automotive industry. Foresight’s vision systems are based on 3D video analysis, advanced algorithms for image processing and sensor fusion. The company, through its wholly owned subsidiary Foresight Automotive Ltd., develops advanced systems for accident prevention which are designed to provide real-time information about the vehicle’s surroundings while in motion. The systems are designed to improve driving safety by enabling highly accurate and reliable threat detection while ensuring the lowest rates of false alerts. The company’s systems are targeting the Advanced Driver Assistance Systems (ADAS), semi-autonomous and autonomous vehicle markets. The company estimates that its systems will revolutionize automotive safety by providing an automotive-grade, cost-effective platform and advanced technology. For more information, visit the company’s website at www.ForesightAuto.com.
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