Foresight Autonomous Holdings Ltd ADR (FRSX)

Foresight Autonomous Holdings Stock (FRSX) dropped by 33.68% from $1.90 to $1.26 in the trading on Thursday December 07, 2023. The reason why FRSX stock down today is due to the announcement of direct offering. The company announced agreements with investors, including its CEO, to sell 4.5 million American Depositary Shares (ADSs) at $1.00 per ADS through a registered direct offering. Anticipated to be finalized by December 11, this transaction is set to generate approximately $4.5 million before fees. The funds will be allocated for general corporate needs and enhancing working capital.