LeddarTech adjusts terms of credit agreement and bridge financing plan

LeddarTech Strengthens Financial Position with Amending Agreements

LeddarTech Holdings Inc., a leading automotive software company, has announced two significant amending agreements that aim to bolster its financial position. The agreements were made with Fédération des caisses Desjardins du Québec and the initial bridge lenders, as well as certain members of management and the board of directors.

Under the Sixteenth Amending Agreement, LeddarTech will make a monthly payment of C$125,000 to Desjardins, payable on the first day of each month, until the Short-Term Outside Date. This agreement temporarily postpones the payment of interest for July through December 2024 until the earlier of the Short-Term Outside Date or March 31, 2025. The Fourth Amending Agreement extends the maturity of the bridge loan to the earlier of March 31, 2025, and the business day following the Short-Term Outside Date.

The Sixteenth Amending Agreement also increases the minimum cash covenant under the Desjardins Credit Facility to C$7,000,000. This agreement and the Fourth Amending Agreement will be filed under LeddarTech’s SEDAR+ and EDGAR profiles.

LeddarTech's goal is to become the most widely adopted sensor fusion and perception software solution, making global mobility safer, more efficient, sustainable, and affordable. The company's high-performance, scalable, cost-effective technology is available to OEMs and Tier 1-2 suppliers for efficient implementation of automotive and off-road vehicle ADAS solutions.

LeddarTech's automotive-grade software applies advanced AI and computer vision algorithms to generate accurate 3D models of the environment for better decision making and safer navigation. The company, which is listed on Nasdaq under the ticker symbol LDTC, has over 170 patent applications (87 granted) that enhance ADAS, AD, and parking capabilities.

It's important to note that LeddarTech's financial and operational updates, including future orders and revenue, are subject to various risks and uncertainties. Actual results could differ materially from those contained in any forward-looking statement due to various factors, including but not limited to, changes in general economic and industry-specific conditions, potential adverse changes to relationships with customers, employees, suppliers, or other parties, and unpredictability and severity of catastrophic events.

LeddarTech's reports, including risk factors, are available on the U.S. Securities and Exchange Commission's website. The company has additional R&D centers located in Montreal and Tel Aviv, Israel.

Regarding the bridge lender for LeddarTech between August 2024 and March 2025, there is no information currently available. The payment of the monthly fees applicable for August 2024 and for the months up until (and including) January 2025 is postponed to the earlier of the Short-Term Outside Date or March 31, 2025.

LeddarTech Holdings Inc. is an automotive software company that provides patented disruptive AI-based low-level sensor fusion and perception software technology, LeddarVision™. The company develops and provides comprehensive AI-based low-level sensor fusion and perception software solutions for ADAS, autonomous driving (AD), and parking applications.