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Foresight Autonomous Signs Term Sheet to Acquire 50.01% Stake in Polish Data Center Projects

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FRSXILA 2.80 −3.45%

Foresight Autonomous Holdings Ltd. (TASE:FRSX) has entered into a non-binding term sheet to acquire a 50.01% controlling stake in a company advancing two data center development projects in Poland. The target entity holds a 66.67% interest in project companies developing facilities in Warsaw and Wroclaw, representing a combined planned power capacity of up to 270 megawatts.

The proposed transaction marks an expansion strategy for the developer of 3D perception and autonomous vehicle systems into data center infrastructure. The acquisition price will be based on an independent valuation and financed through a seller loan. To meet funding commitments of up to $3.5 million for shareholder loans, existing target shareholders will provide Foresight with a convertible loan facility.

Closing of the deal remains subject to due diligence, final transaction agreements, an independent valuation, and required corporate and regulatory approvals. Key upcoming milestones include securing a final grid permit for the 130-megawatt Warsaw site by late 2027 and finalizing land negotiations for the Wroclaw development. Separately, Foresight disclosed that Chief Financial Officer Eli Yoresh owns a 10% personal stake in the target company.

Key points

  • Foresight Autonomous Ltd. signed a preliminary agreement to acquire a 50.01% controlling interest in a Polish data center development firm.
  • The target company is developing two projects in Warsaw and Wroclaw with a combined planned power capacity of up to 270 megawatts.
  • The acquisition price will be determined by an independent valuation and funded entirely through a seller loan.
  • Existing shareholders will offer a convertible loan facility of up to $3.5 million to help Foresight meet project funding obligations.
  • Foresight Chief Financial Officer Eli Yoresh holds a 10% equity stake in the target data center development company.

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Questions and answers

What is Foresight Autonomous acquiring in Poland?

Foresight signed a non-binding term sheet to acquire a 50.01% controlling stake in a company developing data center projects in Warsaw and Wroclaw with up to 270 MW of combined planned capacity.

How will Foresight finance the data center acquisition?

The purchase price will be funded via a seller loan, while current target shareholders will provide a convertible loan facility of up to $3.5 million to finance project commitments.

What approval steps remain before the deal can close?

Completion depends on due diligence, an independent valuation, final transaction agreements, and approvals from corporate, regulatory, stock exchange, and governmental bodies.