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.
To view the full press release, visit http://ibn.fm/3CSiA
About Foresight
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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