Prospector Capital today announced the record date for new issuance of shares in connection with its LeddarTech merger.
Shareholders on the closing date will receive one additional Prospector Class A share for each share or unit they hold. The record date is Dec. 21, which is the currently anticipated closing date, immediately after giving effect to redemptions and the conversion of each Class B share into 0.75 Prospector Class A shares and 0.25 sponsor non-voting special shares. The issuance of the dividend shares is subject to the business combination closing on the same date.
Prospector shareholders voted Dec. 13 to approve the merger. If the business combination is not completed Dec. 21, the record date for the dividend shares will automatically change to a later date on which it is consummated.
The transaction was originally expected to provide LeddarTech with up to $66 million in gross cash proceeds when the deal was announced in June at a pro forma equity value of $348 million.
A global software company founded in 2007 and headquartered in Quebec City with additional R&D centers in Montreal, Toronto and Tel Aviv, Israel, LeddarTech develops and provides AI-based low-level sensor fusion and perception software solutions for autonomous driving applications. Read more.
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