Foresight Autonomous Holdings (NASDAQ: FRSX) (TASE: FRSX), an innovator in automotive vision systems, has received notice from the NASDAQ Stock Market LLC that its closing bid price for its American Depositary Shares (“ADSs”) was below $1 per share for the last 30 consecutive business days, meaning the company is not in compliance with a NASDAQ listing rule. As a result, Foresight has a 180-calendar day compliance period (until March 3, 2025) to regain compliance. Regaining compliance would mean FRSX’s closing ADSs bid price must meet or exceed $1 per share for at least 10 consecutive business days during the 180-calendar day compliance period; a second 180-day calendar compliance period may be granted if that price per share standard is not met under certain circumstances.
“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,” stated the press release. “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.”
To view the full press release, visit https://ibn.fm/64AAy
About Foresight Autonomous Holdings Ltd.
Foresight Autonomous Holdings is a technology company developing smart multispectral 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 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, precollision 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, visit the company’s website at www.ForesightAuto.com.
NOTE TO INVESTORS: The latest news and updates relating to FRSX are available in the company’s newsroom at http://ibn.fm/FRSX
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