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Forum - Foresight Autonomous Holdings Ltd. ADR - FRSX   

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From: NetworkNewsWire (Rep: 0)Date: 03/15/2019 16:01
Forum: Foresight Autonomous Holdings Ltd. ADR - Msg #158Thread #674070466 (Rec: 0)
NetworkNewsBreaks – Foresight Autonomous Holdings Ltd. (NASDAQ: FRSX) (TASE: FRSX) Prices Public Offering of 4M American Depositary Shares

Automotive technology innovator Foresight Autonomous Holdings (NASDAQ: FRSX) (TASE: FRSX) this morning announced the pricing of an underwritten public offering of 4,000,000 American Depositary Shares (“ADSs”), each at a price to the public of $1.50 per ADS, with expected gross proceeds of approximately $6,000,000 to the company. According to the update, the company intends to use the offering’s net proceeds for general corporate purposes. Foresight has granted underwriters a 45-day option to purchase up to 600,000 additional ADSs at the public offering price, less underwriting discounts and commissions, to cover over-allotments, if any. Subject to customary conditions, the offering is expected to close on or about March 19, 2019.

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