Foresight: Rail Vision Files Draft Prospectus for Initial Public Offering
April 29 2021 - 8:00AM
Business Wire
Foresight Autonomous Holdings Ltd. (Nasdaq and TASE: FRSX), an
innovator in automotive vision systems, announced today that its
affiliate, Rail Vision Ltd., filed a nonpublic draft prospectus for
an initial public offering and registration for trade of its
securities on the Tel Aviv Stock Exchange Ltd. Foresight owns
19.36% of Rail Vision’s outstanding share capital.
As indicated by Rail Vision, the draft prospectus was filed with
the Tel Aviv Stock Exchange and Israeli Securities Authority on
April 25, 2021. Rail Vision informed Foresight that it
simultaneously intends to test the conditions prevailing on the
Israeli capital markets towards a possible public offering.
However, Rail Vision has not yet finalized any decision on the
offering of securities, on the structure, scope, terms or timing of
an offering, on whether such an offering will be made or on whether
a prospectus will ultimately be published.
Rail Vision also indicated that the filing of a final prospectus
is subject to a permit from the Israeli Securities Authority and
the approval of the Tel Aviv Stock Exchange Ltd. There is no
certainty that such permit and approval will be obtained or, if
obtained, that Rail Vision will conduct any public offering of its
securities.
If pursued, a public offering will be available in Israel only
and not on U.S. stock exchanges. In the event of an offering,
securities will not be registered under the U.S. Securities Act of
1933, as amended, and will not be offered or sold in the United
States without registration or applicable exemption from the
registration requirements, according to the U.S. Securities Act.
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy any securities.
Rail Vision is a leading provider of cutting-edge cognitive
vision sensor technology to increase safety in the railway
industry. Rail Vision’s solutions offer detection and
classification of objects or obstacles (e.g., humans, vehicles, and
signals), rail path recognition (i.e., switch state detection),
distance measurement and an opportunity for infrastructure
condition monitoring.
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. 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, sensor fusion and dense 3D point cloud that can be
applied to diverse 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
the potential initial public offering of Rail Vision. 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, 2021, 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.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20210429005598/en/
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