Automotive technology innovator Foresight Autonomous Holdings (NASDAQ: FRSX) (TASE: FRSX) on
Tuesday announced the closing of an underwritten public offering of 4,100,000
American Depositary Shares (“ADSs”), which includes 100,000 ADSs sold pursuant
to a partial exercise by the underwriters of the underwriters’ over-allotment
option, each at a price to the public of $1.50 per ADS. According to the
update, the company’s gross proceeds from this offering are expected to be
approximately $6.2 million, of which it intends to use the net proceeds for
general corporate purposes. Foresight has granted underwriters a 45-day option
to purchase additional ADSs to cover over-allotments, if any.
To view the full press release, visit http://ibn.fm/75YlK
About Foresight Autonomous Holdings Ltd.
Foresight Autonomous Holdings Ltd., 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 predicts 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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