Foresight Informed by Nasdaq on Minimum Bid Price Requirement

Ness Ziona, Israel, Sept. 06, 2024 – Foresight Autonomous Holdings Ltd. FRSX, a Nasdaq and TASE listed company, shared an announcement regarding its status with Nasdaq’s minimum bid requirement. The tech firm, specializing in the creation of advanced vision systems for the automotive sector, disclosed that on September 3, 2024, they had received a formal notice indicating non-compliance with Nasdaq's minimum bid price rule.

Understanding Nasdaq's Notification

The notice received by Foresight, known within the industry for its pioneering efforts in automotive vision technology, highlighted the company's stock trading below the required minimum bid price set forth by Nasdaq. The rule stipulates that listed securities must maintain a minimum bid price of $1.00 per share, and reportedly, FRSX has been trading below this threshold.

Implications for Foresight and Investors

FRSX's receipt of the notice does not immediately affect its listing on the Nasdaq Stock Market, granting the company a grace period to regain compliance. During this period, FRSX will remain publicly traded, which presents both challenges and opportunities for the company and its investors. For Foresight and its shareholders, the focus will undoubtedly shift towards strategic actions that could help elevate the company's stock performance to meet Nasdaq’s bid price criteria.

Company’s Proactive Measures

Foresight, headquartered in Ness Ziona, Israel, is taking this development seriously and is expected to explore various options to resolve the situation. This may include financial strategies aimed at increasing investor confidence and initiatives to strengthen market presence and industry partnerships. As an innovator within the automotive sensor systems landscape, FRSX seeks to leverage its technological advancements and market position to overcome this regulatory hurdle.

Foresight, Nasdaq, Compliance