Foresight signs data center acquisition term sheet
- Foresight Autonomous Holdings signed a non-binding term sheet to acquire 50.01% of a company developing two Polish data center projects.
- The projects are planned for up to 270 MW of combined capacity near Warsaw and Wroclaw.
- Foresight said the transaction remains subject to due diligence, definitive agreements, and required approvals.
Foresight Autonomous Holdings (NASDAQ:FRSX) signed a non-binding term sheet to acquire a 50.01% stake in a company advancing two data center projects in Poland.
The target company is expected to hold a 66.67% interest in each project, including a planned 130 MW facility near Warsaw and a project with up to 140 MW capacity near Wroclaw.
Foresight said the purchase price will be determined through an independent valuation, while the acquisition would be funded through a seller loan and include approximately $1 million toward outstanding shareholder loans and up to $2.5 million in additional loans.
Foresight Autonomous Holdings develops technology solutions, including computer vision and sensing systems, while exploring additional investment opportunities.
The company said the proposed transaction remains subject to due diligence, final agreements, approvals, and a convertible loan facility of up to US$3.5 million from the target company’s current shareholders or representatives.
