Foresight Regains Compliance with Nasdaq Minimum Bid Price Rule

Rhea-AI Summary

Foresight Autonomous Holdings (FRSX) has successfully regained compliance with Nasdaq's minimum bid price requirement. The company, which was notified of non-compliance on September 3, 2024, due to its American Depositary Shares (ADSs) failing to maintain a closing bid price of $1.00 or more for 30 consecutive business days, has now met the compliance criteria.

From December 20, 2024, through January 6, 2025, the company's ADSs maintained a closing bid price of $1.00 or higher for more than the required 10 consecutive trading days. This achievement has resolved the previous non-compliance issue with Nasdaq Listing Rule 5550(a)(2), ensuring continued listing on The Nasdaq Capital Market.

Positive

• Regained Nasdaq listing compliance, eliminating delisting risk
• Maintained ADS price above $1.00 for required compliance period

Negative

• Previously faced delisting risk due to low share price

Ness Ziona, Israel, Jan. 08, 2025 (GLOBE NEWSWIRE) -- Foresight Autonomous Holdings Ltd. (Nasdaq and TASE: FRSX) (“Foresight” or the “Company”), an innovator in 3D perception systems, today announced that it has received a letter from The Nasdaq Stock Market LLC (“Nasdaq”) informing Foresight that it has regained compliance with the minimum bid price requirement under Nasdaq Listing Rule 5550(a)(2), for continued listing on The Nasdaq Capital Market, and the matter of previous non-compliance is now closed.

Foresight was previously notified by Nasdaq on September 3, 2024, that it was not in compliance with the minimum bid price rule because its American Depositary Shares (“ADSs”) failed to meet the closing bid price of $1.00 or more for 30 consecutive business days, as required by the Nasdaq Listing Rules. To regain compliance with the bid price, the Company was required to maintain a minimum closing bid price of $1.00 or more for at least 10 consecutive trading days. From December 20, 2024 through January 6, 2025, the closing bid price of the Company’s ADSs has been at $1.00 per ADS or greater. Accordingly, the Company has regained compliance with Nasdaq's minimum bid price rule.

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 “X” (formerly Twitter), or join Foresight Automotive on LinkedIn.

Investor Relations Contact:

Miri Segal-Scharia
CEO
MS-IR LLC
msegal@ms-ir.com
917-607-8654

FAQ

When did Foresight (FRSX) regain Nasdaq compliance?

Foresight regained compliance with Nasdaq's minimum bid price requirement on January 8, 2025, after maintaining a closing bid price of $1.00 or higher from December 20, 2024, through January 6, 2025.

What caused FRSX's initial Nasdaq non-compliance notice?

Foresight received a non-compliance notice on September 3, 2024, because its American Depositary Shares failed to maintain a closing bid price of $1.00 or more for 30 consecutive business days.

What were the requirements for FRSX to regain Nasdaq compliance?

To regain compliance, Foresight needed to maintain a minimum closing bid price of $1.00 or more for at least 10 consecutive trading days.

What is the current status of FRSX's Nasdaq listing?

FRSX has fully regained compliance with Nasdaq's minimum bid price requirement and will continue its listing on The Nasdaq Capital Market, with the previous non-compliance matter now closed.