NetworkNewsBreaks – Foresight Autonomous Holding
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Posted On: 06/25/2018 6:55:31 PM
NetworkNewsBreaks – Foresight Autonomous Holdings Ltd. (NASDAQ: FRSX) (TASE: FRSX) Secures $6.9M through Private Placements
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.
Please see full disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or re-published: http://NNW.fm/Disclaimer
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.
Please see full disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or re-published: http://NNW.fm/Disclaimer
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