Foresight Autonomous Holdings (NASDAQ: FRSX) (TASE: FRSX),
an innovator in automotive vision systems, today announced its entry into
definitive agreements with investors for the purchase and sale of 8,333,334 of
the Company’s American Depositary Shares (“ADSs”), each at a price of $0.60,
pursuant to a registered direct offering. Foresight will secure approximately
$5 million in gross proceeds from the offering, before deduction of placement
agent fees and other estimated expenses. The Company intends to use the net
proceeds for working capital and other general corporate purposes. Subject to
the satisfaction of customary conditions, the closing of the registered direct
offering is expected to take place on or about May 21, 2020. A.G.P./Alliance
Global Partners is acting as sole placement agent for the offering.
To view the full press release, visit http://ibn.fm/KO6P9
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 sensors systems for the automotive industry. Through the
company’s wholly owned subsidiaries, Foresight Automotive Ltd. and Eye-Net
Mobile Ltd., Foresight develops both “in-line-of-sight” vision systems and
“beyond-line-of-sight” cellular-based applications. Foresight’s vision sensor
is a four-camera system based on 3D video analysis, advanced algorithms for
image processing, and sensor fusion. Eye-Net Mobile’s cellular-based
application is a V2X (vehicle-to-everything) accident prevention solution based
on real-time spatial analysis of clients’ movement.
The company’s systems are designed to improve driving safety
by enabling highly accurate and reliable threat detection while ensuring the
lowest rates of false alerts. Foresight is targeting the semi-autonomous and
autonomous vehicle markets and predicts that its systems will revolutionize
automotive safety by providing an automotive-grade, cost-effective platform and
advanced technology.
For more information about Foresight and its wholly owned
subsidiary, Foresight Automotive, visit 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
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