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: September 2024
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
On
September 6, 2024, Foresight Autonomous Holdings Ltd.’s (the “Registrant”) issued a press release titled “Foresight
Receives Nasdaq Notification Regarding Minimum Bid Requirements.”
This
Report is incorporated by reference into the Registrant’s Registration Statements on Form F-3 (File No. 333-276709) and Form S-8
(Registration Nos. 333-229716, 333-239474, 333-268653 and 333-280778), filed with the Securities and Exchange Commission, to be a part
thereof from the date on which this Report of Foreign Private Issuer on Form 6-K is submitted, to the extent not superseded by documents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:
September 6, 2024 |
By: |
/s/
Eli Yoresh |
|
Name:
|
Eli
Yoresh |
|
Title: |
Chief
Financial Officer |
Exhibit
99.1
Foresight
Receives Nasdaq Notification Regarding Minimum Bid Requirements
Ness
Ziona, Israel – September 6, 2024 - Foresight Autonomous Holdings Ltd. (Nasdaq and TASE: FRSX) (“Foresight” or the
“Company”), an innovator in automotive vision systems, announced today that on September 3, 2024, the Company received a
written notice (the “Notice”) from the Nasdaq Stock Market LLC indicating that the Company was not in compliance with Nasdaq
Listing Rule 5550(a)(2), as the Company’s closing bid price for its American Depositary Shares (“ADSs”) was below $1.00
per share for the last 30 consecutive business days.
Pursuant
to Nasdaq Listing Rule 5810(c)(3)(A), the Company has been granted a 180-calendar day compliance period, or until March 3, 2025, to regain
compliance with the minimum bid price requirement. To regain compliance, the closing bid price of the Company’s ADSs must meet
or exceed $1.00 per share for at least 10 consecutive business days during the 180-calendar day compliance period.
If
the Company is not in compliance by March 3, 2025, the Company may be afforded a second 180-calendar day compliance period. To qualify
for this additional time, the Company will be required to meet the continued listing requirement for market value of publicly held shares
and all other initial listing standards for Nasdaq with the exception of the minimum bid price requirement, and will need to provide
written notice of its intention to cure the deficiency during the second compliance period. If the Company does not regain compliance
within the allotted compliance period(s), including any extensions that may be granted by Nasdaq, Nasdaq will provide notice that the
Company’s ADSs will be subject to delisting.
The
Company intends to monitor the closing bid price of its ADSs between now and March 3, 2025, and intends to consider available options
to cure the deficiency and regain compliance with the minimum bid price requirement within the compliance period. The Company’s
ADSs will continue to be listed and trade on the Nasdaq Capital Market during this period, unaffected by the receipt of the written notice
from Nasdaq.
This
announcement is made in compliance with Nasdaq Listing Rule 5810(b), which requires prompt disclosure of receipt of a deficiency notification.
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 and Israeli securities laws. Statements that are not statements of historical
fact may be deemed to be forward-looking statements. For example, we are using forward-looking statements when we are discussing regaining
compliance with Nasdaq’s continued listing requirements, and the timing and effect thereof. Without limiting the generality of
the foregoing, words such as “plan,” “project,” “potential,” “seek,” “may,”
“will,” “expect,” “believe,” “anticipate,” “intend,” “could,”
“estimate” or “continue” are intended to identify forward-looking statements. 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,
many of which are beyond the control of the Company, including those set forth in the Risk Factors section of the Company’s Annual
Report on Form 20-F for the year ended December 31, 2023 filed with the SEC on March 27, 2024, which is available on the SEC’s
website, www.sec.gov. The Company undertakes no obligation to update these statements for revisions or changes after the date of this
release, except as required by law.
Investor
Relations Contact:
Miri
Segal-Scharia
CEO
MS-IR
LLC
msegal@ms-ir.com
917-607-8654
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