LeddarTech Secures US$9.0 Million in Funding and Witnesses US$1.5 Million Convertible Note Conversions at Premium Share Price

QUEBEC CITY, Canada - In a significant boost for its financial position, LeddarTech Holdings Inc. ("LeddarTech"), known for its cutting-edge automotive software solutions, has announced securing up to US$9.0 million in financing. The company, trading under the ticker LDTC on the NASDAQ, specializes in providing disruptive AI-based sensor fusion and perception software technology, named LeddarVision™. This technology is geared towards advanced driver-assistance systems (ADAS), autonomous driving (AD), and parking application sectors.

Convertible Note Conversions Reflect Confidence

Adding to this positive financial influx, LeddarTech has also reported conversions of convertible notes amounting to US$1.5 million. Notably, these conversions were executed at an above-market rate of US$2.00 per share, underscoring the investors' confidence in the company's prospects and the value of its proprietary technology in the evolving automobile industry.

Strengthening Market Position

The infusion of capital through both the new financing and the note conversions is expected to bolster LeddarTech's balance sheet significantly, thereby enhancing the company's ability to accelerate its growth initiatives and solidify its market presence in the competitive automotive technology landscape.

LeddarTech, Finance, Technology