Report of Foreign Issuer (6-k)
October 02 2020 - 04:03PM
Edgar (US Regulatory)
UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
Washington,
D.C. 20549
Form
6-K
Report
of Foreign Private Issuer
Pursuant
to Rule 13a-16 or 15d-16
under
the Securities Exchange Act of 1934
For
the month of: October 2020
Commission
file number: 001-38094
FORESIGHT AUTONOMOUS HOLDINGS LTD.
(Translation
of registrant’s name into English)
7
Golda Meir
Ness
Ziona 7403650 Israel
(Address
of principal executive offices)
Indicate
by check mark whether the registrant files or will file annual
reports under cover of Form 20-F or Form 40-F.
Form
20-F ☒ Form
40-F ☐
Indicate
by check mark if the registrant is submitting the Form 6-K in paper
as permitted by Regulations S-T Rule 101(b)(1):_____
Indicate
by check mark if the registrant is submitting the Form 6-K in paper
as permitted by Regulations S-T Rule 101(b)(7):_____
CONTENTS
Execution of Sales Agreement
On October
2, 2020, Foresight Autonomous Holdings Ltd., or the Registrant,
entered into a Sales Agreement, or the Sales Agreement, with
A.G.P./Alliance Global Partners, or the Sales Agent, pursuant to
which the Registrant may offer and sell, from time to time, through
the Sales Agent, American Depositary Shares, or ADSs, each ADS
representing five ordinary shares. The ADSs will be offered and
sold pursuant to the Registrant’s Registration Statement on Form
F-3 (File No. 333-229715), which became effective on March 8, 2019,
the base prospectus
dated March 8, 2019 included in the Form F-3 and the prospectus
supplement relating to the Sales Agreement, dated October 2,
2020.
The
Registrant is not obligated to sell any ADSs under the Sales
Agreement. Subject to the terms and conditions of the Sales
Agreement, the Sales Agent will use commercially reasonable efforts
consistent with their normal trading and sales practices,
applicable state and federal law, rules and regulations and the
rules of The Nasdaq Global Market to sell ADSs from time to time
based upon the Registrant’s instructions, including any price, time
or size limits specified by the Registrant. Upon delivery of a
placement notice to the Sales Agent, and subject to the
Registrant’s instructions in that notice, and the terms and
conditions of the Sales Agreement generally, the Sales Agent may
sell the ADSs by any method permitted by law deemed to be an “at
the market offering” as defined by Rule 415(a)(4) promulgated under
the Securities Act of 1933, as amended. The Sales Agent’s
obligations to sell ADSs under the Sales Agreement is subject to
satisfaction of certain conditions, and other customary closing
conditions. The Registrant will pay the Sales Agent a commission of
3.0% of the aggregate gross proceeds from each sale of ADSs and has
agreed to provide the Sales Agent with customary indemnification
and contribution rights. The Registrant has also agreed to
reimburse the Sales Agent for certain specified
expenses.
The
foregoing summary of the Sales Agreement does not purport to be
complete and is qualified in its entirety by reference to the Sales
Agreement, which is attached as Exhibit 10.1 to this Report and is
incorporated herein by reference.
This
Report shall not constitute an offer to sell or the solicitation of
an offer to buy nor shall there be any sale of the ADSs in any
state or jurisdiction in which such offer, solicitation or sale
would be unlawful prior to registration or qualification under the
securities laws of any such state or jurisdiction. This Report
shall not constitute an offer to sell or the solicitation to buy
nor shall there be any sale of the ADSs in any state or
jurisdiction in which such offer, solicitation or sale would be
unlawful prior to registration or qualification under the
securities laws of any such state or jurisdiction.
This Report is incorporated by reference into the Registrant’s
Registration Statements on Form F-3 (File No.
333-229715) and Form S-8 (Registration No.
333-229716 and 333-239474), filed with the Securities and
Exchange Commission, to be a part thereof from the date on which
this Report is submitted, to the extent not superseded by documents
or reports subsequently filed or furnished.
A
copy of the opinion of Lipa Meir & Co. relating to the legality
of the issuance and sale of the ordinary shares underlying the ADSs
that may be sold pursuant to the Sales Agreement is attached as
Exhibit 5.1 hereto.
Press Release
Attached hereto and incorporated herein is the Registrant’s press
release issued on October 2, 2020, titled “Foresight: Eye-Net
Mobile Signs Distribution Agreement with Leading Japanese Trading
House Cornes Technologies.”
The first, second and fourth paragraphs and the section titled
“Forward-Looking Statements” in the press release are incorporated
by reference into the Registrant’s Registration Statements on Form
F-3 (File No. 333-229715) and Form S-8 (Registration No. 333-229716
and 333-239474) filed with the Securities and Exchange Commission,
to be a part thereof from the date on which this report is
submitted, to the extent not superseded by documents or reports
subsequently filed or furnished.
SIGNATURES
Pursuant
to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf
by the undersigned, thereunto duly authorized.
|
Foresight
Autonomous Holdings Ltd. |
|
(Registrant) |
|
|
|
|
By: |
/s/
Eli Yoresh |
|
Name: |
Eli
Yoresh |
|
Title: |
Chief
Financial Officer |
Date:
October 2, 2020
2