Company signed term sheet for strategic investment and technology synergy with VisionWave

NESS ZIONA, Israel, May 05, 2026 (GLOBE NEWSWIRE) -- Foresight Autonomous Holdings Ltd. (Nasdaq and TASE: FRSX) (“Foresight” or the “Company”), an innovator in 3D perception systems, announced that it has strengthened its product proposition for the defense, homeland security and commercial infrastructure markets through a non-binding term sheet for strategic investment and technology integration with VisionWave Holdings, Inc. (Nasdaq: VWAV) (“VisionWave”).

The collaboration intends to integrate Foresight’s high-resolution visible light/infra-red and neuromorphic event-based sensor suite delivering ultra-low-latency detection in fast, dynamic, or low-light conditions for tactical and autonomous use cases into VisionWave’s multi-layered defense, homeland security and for next-generation defense and commercial autonomous products:

  • UAV Systems - Heavy-lift electric vertical takeoff and landing aircrafts, fixed-wing endurance unmanned aerial vehicles (UAV), and first-person view (FPV) strike platforms, built on advanced compounded materials-composite airframes for extended logistics, and resupply across contested environments.
  • Varan Unmanned Ground Vehicle (UGV) - Modular off-road class UGV for transport and air-launched drone deployment, with autonomous convoy support and adaptive terrain response.
  • Tactical UAS - Sovereign-grade tactical UAVs for short-to-medium range target acquisition, and precision tactical effects. Hand-launchable, rapidly deployable, fielded for government-to-government programs.
  • Counter UAS - Fully autonomous interceptor drones and integrated detect-track-defeat systems against hostile UAS, FPVs, and loitering munitions across the full threat spectrum.

The one stack solution delivers faster, more accurate detection-to-action capabilities for counter-UAV, UGVs, robotics, perimeter security, and critical infrastructure protection.

Pursuant to the term sheet, VisionWave will acquire up to 51% (not less than 45%) of Foresight’s outstanding shares in exchange for approximately $17.5 million in VisionWave common stock (subject to a five-day volume weighted average price pricing mechanism), in staged closings. VisionWave will receive board representation on Foresight’s board (two seats initially, with potential for one additional seat). Both companies will remain independent and publicly traded. The transaction is subject to definitive agreements, expected within the next 30 days from signing of the term sheet on April 19, 2026), completion of due diligence, receipt of all required regulatory, stock exchange, and shareholder approvals (including Nasdaq requirements), and other customary closing conditions.

About VisionWave Holdings Inc.

VisionWave Holdings, Inc. (Nasdaq: VWAV) is a defense and advanced sensing technology company developing AI-driven, RF-based sensing, autonomy, and computational acceleration technologies for defense, homeland security, and commercial infrastructure applications. VisionWave’s mission is to connect defense innovation with civilian progress through shared core technologies deployed across air, land, and sea.

About Foresight

Foresight Autonomous Holdings Ltd. (Nasdaq and TASE: FRSX) is a technology company developing advanced three-dimensional (3D) perception systems and cellular-based applications. Through its wholly owned subsidiaries, Foresight Automotive Ltd., Foresight Changzhou Automotive Ltd. and Eye-Net Mobile Ltd., Foresight develops both “in-line-of-sight” vision systems and “beyond-line-of-sight” accident-prevention solutions.

Foresight’s 3D perception systems include modules of automatic calibration and dense 3D point cloud that can be applied to different markets such as automotive, defense, autonomous driving, agriculture, heavy industrial equipment and unmanned aerial vehicles (UAVs).

Eye-Net Mobile develops next-generation vehicle-to-everything (V2X) collision prevention solutions and smart automotive systems to enhance road safety and situational awareness for all road users in urban mobility environments. By leveraging cutting-edge artificial intelligence (AI) technology, advanced analytics, and existing cellular networks, Eye-Net’s innovative solution suite delivers real-time pre-collision alerts to all road users via smartphones and other smart devices within vehicles.

For more information about Foresight and its wholly owned subsidiary, Foresight Automotive, visit www.foresightauto.com , follow @ForesightAuto1 on X, or join Foresight Automotive on LinkedIn.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995 and other Federal securities laws. Words such as "expects," "anticipates," "intends," "plans," "believes," "seeks," "estimates" and similar expressions or variations of such words are intended to identify forward-looking statements. For example, Foresight is using forward-looking statements in this press release when it discusses the mission of the collaboration, the proposed terms of the non-binding term sheet and its potential closing, the benefits and advantages of Foresight’s technologies and solutions, the potential signing of the definitive agreement and meeting the various closing conditions. Because such statements deal with future events and are based on Foresight’s current expectations, they are subject to various risks and uncertainties, and actual results, performance or achievements of Foresight could differ materially from those described in or implied by the statements in this press release.

These forward-looking statements are made solely by Foresight and do not constitute statements or projections of VisionWave Holdings, Inc. VisionWave makes no representations or warranties regarding the accuracy or completeness of any information contained herein and disclaims any responsibility for this press release. VisionWave undertakes no obligation to update or revise any information contained in this press release.

The forward-looking statements contained or implied in this press release are subject to other risks and uncertainties, including those discussed under the heading "Risk Factors" in Foresight's annual report on Form 20-F for the fiscal year ended December 31, 2025, filed with the Securities and Exchange Commission ("SEC") on March 25, 2026, and in any subsequent filings with the SEC. Except as otherwise required by law, Foresight undertakes no obligation to publicly release any revisions to these forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events. References and links to websites have been provided as a convenience, and the information contained on such websites is not incorporated by reference into this press release. Foresight is not responsible for the content of third party websites.

Investor Relations Contact:
Miri Segal-Scharia
CEO
MS-IR LLC
[email protected]