Charles Boulanger, CEO of Quebec City sensor technology maker LeddarTech Inc., likewise said he was happy his company decided not to go public via a merger with a special-purpose acquisition company. Other light-detection and ranging technology makers took that route, and most have since seen their shares plummet.
Instead, Leddartech raised US$140-million privately to fund its growth as automakers bring vehicles to market with its software embedded in their collision avoidance systems. By waiting, Leddartech should be in stronger financial health when it does go public. “We have more control on what’s going on and happy investors, not unhappy people watching every quarter,” he said.