LeddarTech receives further flexibility within its credit arrangement

LeddarTech Holdings Inc., a global software company based in Quebec City, is currently in the process of securing financing to support its operations and further advance its high-performance, scalable, and cost-effective technology in the field of automotive Advanced Driver-Assistance Systems (ADAS).

The financing, if successful, may include funds to meet near-term obligations, while the Company continues its efforts to close the larger financing. However, it's important to note that there's no guarantee that the financing transaction will be completed.

Any debt or equity securities to be offered and sold in the financing transaction may not be registered under the Securities Act of 1933, as amended, or state securities laws. As a result, they may not be offered or sold in the United States without registration or an applicable exemption.

LeddarTech specializes in developing AI-based low-level sensor fusion and perception software solutions for ADAS, autonomous driving, and parking applications. The Company's technology is used to enhance vehicle awareness for safer navigation and better decision-making. LeddarTech's focus is on making global mobility safer, more efficient, sustainable, and affordable through their technology.

The Company has over 160 patent applications (87 granted) that enhance ADAS, autonomous driving, and parking capabilities. LeddarTech is responsible for several remote-sensing innovations in the field of ADAS, autonomous driving, and parking.

In a recent development, LeddarTech Holdings Inc. has entered into a Tenth Amending Agreement with Fédération des caisses Desjardins du Québec regarding the Amended and Restated Financing Offer dated April 5, 2023. This agreement may have implications for the financing transaction, but specific details have not been disclosed.

LeddarTech has been financially supported in the past by institutional investors, including Cantor Fitzgerald, L.P., as indicated by their holdings disclosures. The Company is in discussions with several principal shareholders and other potential investors to secure financing.

However, it's important to note that there is no assurance that these existing shareholders or other potential investors will invest any amount in the financing transaction. Pursuant to the Tenth Amending Agreement, Desjardins has temporarily reduced the required Minimum Cash Covenant to C$1.3 million from July 26, 2024, through August 5, 2024. After August 5, 2024, the Company will be obligated to maintain a minimum cash balance of C$5.0 million.

LeddarTech was required to maintain an unencumbered cash balance of C$3.5 million from July 5, 2024, through July 6, 2024, and C$1.8 million from July 7, 2024, through July 26, 2024.

For more information about LeddarTech, visit their website at www.LeddarTech.com, or follow them on LinkedIn, Twitter, Facebook, and YouTube. The Company aims to become the most widely adopted sensor fusion and perception software solution for global mobility safety, efficiency, sustainability, and affordability.