FRSX · Foresight Autonomous Holdings Ltd.

Foresight Autonomous Holdings Ltd. has signed a non-binding term sheet with VisionWave Holdings, Inc. (Nasdaq: VWAV), a defense and advanced sensing technology company, for a transformative strategic investment. VisionWave will invest between $15.45 million and $17.5 million in exchange for 45-51% ownership of Foresight through issuance of VisionWave common stock, priced at the five-day average closing price before closing. This values Foresight at roughly three times its current market value, reaching a post-money valuation of about $35 million, providing critical financial strength for operations, technology development, and commercialization of 3D perception solutions. The deal emphasizes synergies between Foresight's stereo vision and thermal camera technologies and VisionWave's RF and defense expertise, targeting high-growth areas like robotics, drones, and unmanned aerial vehicles in military, defense, and homeland security markets. VisionWave's executive chairman Douglas Davis highlighted the complementary thermal vision for large-scale defense projects. While non-binding, the term sheet outlines a clear path to greater market focus and global business development leverage, pending due diligence, definitive agreements, and necessary approvals. This positions Foresight to capitalize on its strengths in challenging off-road and aerial environments.