Foresight Announces Plan for Reverse Share Split

Core Viewpoint - Foresight Autonomous Holdings Ltd. plans to conduct a reverse share split at a ratio of 1-for-7, effective on August 24, 2025, on the Tel-Aviv Stock Exchange and August 25, 2025, on the Nasdaq Capital Market [1][2]. Company Overview - Foresight Autonomous Holdings Ltd. is a technology company focused on developing advanced 3D perception systems and cellular-based applications [5]. - The company operates through subsidiaries including Foresight Automotive Ltd., Foresight Changzhou Automotive Ltd., and Eye-Net Mobile Ltd., which develop both "in-line-of-sight" vision systems and "beyond-line-of-sight" accident-prevention solutions [5]. Reverse Share Split Details - The reverse share split will not change the existing ratio of ordinary shares represented by the Company's American Depositary Shares (ADSs) [2]. - Following the reverse share split, the ADS price is expected to increase proportionally, although there is no assurance that the post-split price will match the expected proportionate increase [2]. - The reverse share split aims to help the company maintain compliance with Nasdaq listing requirements, though success in this goal is not guaranteed [2]. Shareholder Impact - The reverse share split will not affect any shareholder's percentage ownership or voting power [4]. - No fractional new ADSs will be issued; instead, fractional entitlements will be aggregated and sold, with net cash proceeds distributed to ADS holders [4]. Product and Market Applications - Foresight's 3D perception systems include automatic calibration modules and dense 3D point clouds applicable in various markets such as automotive, defense, autonomous driving, agriculture, heavy industrial equipment, and unmanned aerial vehicles (UAVs) [6]. - Eye-Net Mobile focuses on developing next-generation vehicle-to-everything (V2X) collision prevention solutions, enhancing road safety and situational awareness through AI technology and existing cellular networks [7].