Foresight Autonomous signs term sheet to buy 50.01% stake in Polish data center developer
FRSX•Foresight Autonomous Holdings signed a non-binding term sheet to acquire 50.01% of a Polish data center developer with projects in Warsaw and Wroclaw planned for up to 270 MW. The purchase price will be set by an independent valuation, with financing arrangements including a seller loan and a convertible loan facility of up to $3.5 million.
1. Proposed acquisition
Foresight Autonomous Holdings signed a non-binding term sheet to buy 50.01% of a Polish data center development company advancing projects in Warsaw and Wroclaw, with planned combined capacity of up to 270 MW. The purchase price will be set by an independent valuation, and the consideration is to be financed entirely through a seller loan.
2. Loan arrangements
Closing would include about $1 million for shareholder loans, with up to $2.5 million in additional shareholder loans. A separate convertible loan facility of up to $3.5 million would fund those obligations. Foresight CFO Eli Yoresh holds a 10% stake in the target.
