LeddarTech completed its business combination with Prospector Capital today. LeddarTech shares and warrants will be listed tomorrow on the Nasdaq under the ticker symbols LDTC and LDTCW.
LeddarTech is an automotive software company that provides patented disruptive AI-based low-level sensor fusion and perception software technology for advanced driver assistance systems (ADAS) and autonomous driving (AD).
Announced in June at a pro forma equity value of $348 million, the transaction proved to be one of the fastest deals to reach completion in recent SPAC history.
Ultimately, LeddarTech was expected to receive $58.6 million in gross proceeds, consisting of the $14.6 million remaining in the SPAC’s trust and a $44 million convertible PIPE.
D Cowen is serving as the exclusive financial advisor to Prospector. Stikeman Elliott, and Vedder Price are representing LeddarTech as legal counsel. Osler, Hoskin and Harcourt and White & Case are counsel to Prospector. Goodwin Procter is legal advisor to TD Cowen. Read more.
