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Foresight Autonomous Holdings Trading Halted Amid Unannounced News
ByAinvest
Saturday, Aug 23, 2025 4:45 am ET1min read
Foresight Autonomous Holdings' trading has been halted due to pending news.
Foresight Autonomous Holdings Ltd. (Nasdaq and TASE: FRSX), a leading innovator in 3D perception systems, has seen its trading halted due to pending news. The company has announced a 1-for-7 reverse share split of its ordinary shares, set to become effective on August 24 on the Tel Aviv Stock Exchange and August 25 on the Nasdaq Capital Market [1].The reverse split aims to maintain compliance with Nasdaq's listing requirements. While the trading price of the company's American Depositary Shares (ADS) will be proportionally increased, Foresight has noted that it cannot assure the ADS price will hold on a proportionate basis after implementation [1]. The move will not affect shareholder voting rights or ownership percentages and no fractional shares will be issued. Instead, the depositary will aggregate and sell fractional entitlements, distributing the cash proceeds to holders [1].
Retail sentiment toward the company has been 'bearish' on Stocktwits, with low message volume reflecting investor caution around the reverse split [1]. One user questioned whether shareholder approval was required, while another suggested the company's decision to move ahead before extending showed a focus on securing compliance ahead of possible near-term deals.
Foresight Autonomous has been active in forming strategic partnerships and collaborations. On Monday, the company announced a three-way agreement with Konec and Gint to co-develop an autonomous tractor control system based on its 3D perception technology [1]. This collaboration could generate up to $35 million in revenue by 2030, with initial sales expected as early as 2026. Earlier this month, Foresight also secured approval for a $5 million drone development project with India's Big Bang Boom Solutions, aimed at rugged autonomous drones for industrial inspection [1].
The company's stock has declined 73.7% so far in 2025. For updates and corrections, email newsroom[at]stocktwits[dot]com.
References:
[1] https://menafn.com/1109940028/Foresight-Autonomous-Sets-Reverse-Split-To-Retain-Nasdaq-Listing-Retail-Traders-Eye-Compliance-Play-Ahead-Of-Deals
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