LeddarTech, a Disruptive Automotive Software Provider, to Become a Public Company via Business Combination With Prospector Capital Corp.

Read The Full Story Here

We have thrilling news to share with you today! LeddarTech Inc., the automotive software company known for its disruptive sensor fusion and perception technology, is joining forces with Prospector Capital Corp. (Nasdaq: PRSR, PRSRU, PRSRW), a publicly traded special-purpose acquisition company led by former Qualcomm President Derek Aberle and chaired by former Qualcomm Vice Chairman Steve Altman.

This collaboration is a major milestone for LeddarTech, as it will make the company publicly listed. The transaction, expected to close by Q4 2023, will list LeddarTech on Nasdaq under the ticker symbol LDTC. Renowned for our industry-leading sensor fusion and perception software, LeddarTech’s solution is both sensor and processor-agnostic, significantly reducing costs for automotive OEMs and suppliers. It offers enhanced performance and scalability for ADAS/AD applications, from entry-level to premium vehicles.

We are committed to advancing automotive technology, delivering innovation and empowering our customers with cutting-edge software. Our upcoming public listing will strengthen our industry position, expanding our capabilities and driving greater value for you.

We extend our heartfelt gratitude for your continued support and trust in LeddarTech. Stay tuned for further updates as we embark on this exciting journey together.

• LeddarTech has the potential to disrupt the markets for advanced driver assistance systems (ADAS) and autonomous driving (AD) with patented low-level sensor fusion and perception software products.
• LeddarTech’s unique solution solves current limitations, enabling leading automotive original equipment manufacturers (OEMs) and Tier 1-2 suppliers to drive ADAS and AD to new levels of performance, safety and adoption.
• The transaction is expected to provide the company with up to U.S. $66 million in gross proceeds, including up to U.S. $23 million in proceeds from the Prospector trust account (assuming no redemptions) and U.S. $43 million in convertible PIPE proceeds.
• The transaction values LeddarTech at a pro-forma equity value of U.S. $348 million, assuming no redemptions and the full conversion of the convertible PIPE (without taking into account earn-out to LeddarTech existing shareholders or earn-out to Prospector’s sponsor).