By Kelly Cloonan

Shares of VisionWave Holdings slid on a potential equity investment of a minimum of $15.5 million and up to $17.5 million in Foresight Autonomous Holdings.

The stock fell 15% to $6.05 on Monday. Shares have declined 35% year to date.

Under the companies' nonbinding term sheet, VisionWave would invest in Foresight by issuing its common stock based on the five-day average closing price of its stock prior to closing. In exchange, VisionWave would receive up to 51% of Foresight's issued and outstanding share capital, the companies said.

Under the terms of the deal, Foresight would focus more on the defense, military and homeland security markets, which the companies see benefiting from Foresight's camera-based perception systems and VisionWave's radio frequency and defense-focused technologies.

"Thermal vision sensing is key to military, defense and homeland security markets, and VisionWave's global presence is well positioned to promote Foresight's strong technological capabilities to short-term commercialization success," VisionWave's Chief Executive Douglas Davis said.

The transaction is subject to the completion of due diligence, negotiation and execution of definitive agreements, as well as regulatory and other approvals.

Write to Kelly Cloonan at kelly.cloonan@wsj.com

(END) Dow Jones Newswires

April 20, 2026 13:49 ET (17:49 GMT)

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