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Foresight Reminds Shareholders of Upcoming TASE Delisting and Encourages Conversion of Ordinary Shares into Nasdaq-Traded ADSs; BNY to Waive Issuance Fees Through January 7, 2027

FRSX
  • Foresight Autonomous Holdings Ltd. reminds TASE shareholders of its voluntary delisting of Ordinary Shares scheduled for January 4, 2027, following a last trading day of January 1, 2027.
  • The company's ADSs, each representing 90 Ordinary Shares, will continue trading on Nasdaq under the symbol "FRSX" without affecting U.S. reporting obligations.
  • Bank of New York Mellon (BNY) will waive issuance fees for converting TASE Ordinary Shares into ADSs until January 7, 2027.
  • Starting January 8, 2027, BNY will charge $5.00 per 100 ADSs delivered or fraction thereof for conversion services.
  • Shareholders must instruct their banks or brokers to deposit Ordinary Shares with BNY's Israeli custodians to receive whole ADSs, as fractional ADSs will be rejected.
  • Investors must confirm their receiving broker can accept ADS delivery via The Depository Trust Company (DTC) to ensure settlement.
  • Deliveries made after January 7, 2027, will occur on a delivery-versus-payment basis requiring the broker to accept payment of applicable issuance fees.
  • A conversion guide containing custodian details, fees, and settlement procedures is available on the company's investor relations website.
  • Foresight is a developer of 3D perception systems for automotive, defense, autonomous driving, agriculture, heavy industrial equipment, and UAVs.
  • The company's subsidiary Eye-Net Mobile creates vehicle-to-everything collision prevention solutions using AI and cellular networks.
  • The press release includes forward-looking statements regarding the delisting, conversion timelines, fee structures, and settlement procedures subject to risks and uncertainties.