UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
Washington,
D.C. 20549
Form
6-K
Report
of Foreign Private Issuer
Pursuant
to Rule 13a-16 or 15d-16
under
the Securities Exchange Act of 1934
For
the month of: January 2024 (Report No.2)
Commission
file number: 001-38094
FORESIGHT
AUTONOMOUS HOLDINGS LTD.
(Translation
of registrant’s name into English)
7
Golda Meir
Ness
Ziona 7403650 Israel
(Address
of principal executive offices)
Indicate
by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.
Form
20-F ☒ Form 40-F ☐
CONTENTS
Attached
hereto and incorporated herein is Foresight Autonomous Holdings Ltd.’s (the “Registrant”) press release issued on January
24, 2024, titled “Foresight: Rail Vision Receives Order from Leading US-based Rail Contractor of up to $5 million.”
The
first, third and fourth paragraphs and the paragraph titled “Forward-Looking Statements” contained in Exhibit 99.1 are incorporated
by reference into the Registrant’s Registration Statements on Form F-3 (File No. 333-252334) and Form S-8 (Registration Nos. 333-229716,
333-239474 and 333-268653), filed with the Securities and Exchange Commission, to be a part thereof from the date on which this Report
is submitted, to the extent not superseded by documents or reports subsequently filed or furnished.
SIGNATURES
Pursuant
to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by
the undersigned, thereunto duly authorized.
|
Foresight Autonomous Holdings Ltd. |
|
(Registrant) |
|
|
Date: January 24, 2024 |
By: |
/s/ Eli Yoresh |
|
Name: |
Eli Yoresh |
|
Title: |
Chief Financial Officer |
Exhibit
99.1
Foresight:
Rail Vision Receives Order from Leading US-based Rail Contractor of up to $5 Million
The
rail contractor signed a supply contract for Rail Vision’s AI-based Switch Yard Systems
Ness
Ziona, Israel – January 24, 2024 – Foresight Autonomous Holdings Ltd. (Nasdaq and TASE: FRSX) (“Foresight”),
an innovator in automotive vision systems, announced today that its affiliate, Rail Vision Ltd. (Nasdaq: RVSN) (“Rail Vision”)
has signed a supply contract with a leading US-based rail and leasing services company valued at up to $5 million for the purchase of
Rail Vision’s artificial intelligence (AI)-based Switch Yard Systems. Foresight owns 10.2% of Rail Vision’s outstanding share
capital.
“The
signing of the contract with this customer is a significant milestone for Rail Vision, marking our entrance into the US market and reflecting
our commitment to enabling the rail industry with cutting-edge AI-based technology,” said Shahar Hania, CEO of Rail Vision. “Our
Switch Yard System is designed to significantly improve safety and efficiency in rail yards. We are proud that our new customer, a prominent
player in the rail services sector in North America, has recognized the value of our solution. This new partnership is a testament to
the innovation and effectiveness of Rail Vision’s technology, and we look forward to working closely with this customer to help
them enhance operations and contribute to a safer, more efficient rail industry.”
Rail
Vision’s unique Switch Yard System enables railway operators to streamline and enhance the safety of their industrial switching
operations. Combining advanced vision sensors with AI and deep learning technologies, the system automatically detects and classifies
objects within a range of up to 200 meters, in various weather and light conditions. With its one-of-a-kind Pathfinder technology, the
Switch Yard System can detect switch states to support the execution of coupling from a remote position. In addition, it enables the
monitoring of operational dead zones to facilitate secure wagon coupling and sends real-time visual and acoustic alerts to remote operators
and drivers, ensuring a safe and secure environment.
The
first phase of the contract is valued at $1 million. Follow-on orders for additional Switch Yard Systems, valued at up to $4 million,
are subject to customer approval. The contract also includes specific purchase quotas that, if met, provide the customer with exclusivity
in the North American industrial railyards switching segment.
About
Rail Vision Ltd.
Rail
Vision is a technology company that is seeking to revolutionize railway safety and the data-related market. The Company has developed
cutting-edge, artificial intelligence-based, industry-leading technology specifically designed for railways. The Company has developed
its railway detection and systems to save lives, increase efficiency, and dramatically reduce expenses for the railway operators. Rail
Vision believes that its technology will significantly increase railway safety around the world, while creating significant benefits
and adding value to everyone who relies on the train ecosystem: from passengers using trains for transportation to companies that use
railways to deliver goods and services. In addition, the company believes that its technology has the potential to advance the revolutionary
concept of autonomous trains into a practical reality. For more information, please visit https://www.railvision.io/
About
Foresight
Foresight
Autonomous Holdings Ltd. (Nasdaq and TASE: FRSX) is a technology company developing smart multi-spectral vision software solutions and
cellular-based applications. Through the Company’s wholly owned subsidiaries, Foresight Automotive Ltd., Foresight Changzhou Automotive
Ltd. and Eye-Net Mobile Ltd., Foresight develops both “in-line-of-sight” vision systems and “beyond-line-of-sight”
accident-prevention solutions.
Foresight’s
vision solutions include modules of automatic calibration and dense three-dimensional (3D) point cloud that can be applied to different
markets such as automotive, defense, autonomous vehicles and heavy industrial equipment. Eye-Net Mobile’s cellular-based solution
suite provides real-time pre-collision alerts to enhance road safety and situational awareness for all road users in the urban mobility
environment by incorporating cutting-edge AI technology and advanced analytics.
For
more information about Foresight and its wholly owned subsidiary, Foresight Automotive, visit www.foresightauto.com, follow @ForesightAuto1
on Twitter, or join Foresight Automotive on LinkedIn.
Forward-Looking
Statements
This
press release contains forward-looking statements within the meaning of the “safe harbor” provisions of the Private Securities
Litigation Reform Act of 1995 and other Federal securities laws. Words such as “expects,” “anticipates,” “intends,”
“plans,” “believes,” “seeks,” “estimates” and similar expressions or variations of such
words are intended to identify forward-looking statements. For example, Foresight is using forward-looking statements in this press release
when it discusses how Rail Vision looks forward to working closely with the customer with whom it has signed the contract and the potential
follow-on orders for additional Switch Yard Systems and specific purchase quotas as part of the contract. Because such statements deal
with future events and are based on Foresight’s current expectations, they are subject to various risks and uncertainties, and
actual results, performance or achievements of Foresight could differ materially from those described in or implied by the statements
in this press release.
The
forward-looking statements contained or implied in this press release are subject to other risks and uncertainties, including those discussed
under the heading “Risk Factors” in Foresight’s annual report on Form 20-F filed with the Securities and Exchange Commission
(“SEC”) on March 30, 2023, and in any subsequent filings with the SEC. Except as otherwise required by law, Foresight undertakes
no obligation to publicly release any revisions to these forward-looking statements to reflect events or circumstances after the date
hereof or to reflect the occurrence of unanticipated events. References and links to websites have been provided as a convenience, and
the information contained on such websites is not incorporated by reference into this press release. Foresight is not responsible for
the contents of third-party websites.
Investor
Relations Contact:
Miri
Segal-Scharia
CEO
MS-IR
LLC
msegal@ms-ir.com
917-607-8654
Foresight Autonomous (NASDAQ:FRSX)
Historical Stock Chart
From Mar 2024 to Apr 2024
Foresight Autonomous (NASDAQ:FRSX)
Historical Stock Chart
From Apr 2023 to Apr 2024