US$3 million received by LeddarTech post the distribution of the second portion of their earlier bridge financing agreement.

LeddarTech Holdings Inc., an automotive software company headquartered in Quebec City, announced it has received the second tranche of a bridge loan in the amount of US$3.0 million. This brings the total bridge financing to up to US$9.0 million.

The bridge financing, made available by certain principal shareholders including FS Investors, Investissement Québec, and Fédération des caisses Desjardins du Québec, also includes additional loans from members of management and the board of directors in an aggregate amount of approximately US$334,000.

The second tranche was conditioned on the absence of a default under the bridge loans and the receipt by the company of a commitment from a strategic investor of its intent to invest a minimum amount of US$5.0 million in a subsequent equity capital raise. However, the name of the strategic investor who has made this commitment is not disclosed in the available search results.

LeddarTech develops AI-based low-level sensor fusion and perception software solutions for Advanced Driver-Assistance Systems (ADAS), autonomous driving, and parking applications. Their technology offers automotive-grade, high-performance, scalable, and cost-effective solutions to Original Equipment Manufacturers (OEMs) and Tier 1-2 suppliers.

The company's software applies advanced AI and computer vision algorithms to generate accurate 3D models of the environment, enhancing decision-making and ensuring safer navigation. LeddarTech has over 160 patent applications (87 granted) that further boost ADAS, autonomous driving, and parking capabilities.

The bridge financing constitutes a "related-party transaction" under Canadian securities laws, as FS, Investissement Québec, and the additional bridge lenders are insiders of the company. The company's board of directors has determined that the bridge financing is designed to improve the financial condition of the company, and the terms are reasonable in the company's circumstances.

However, it's important to note that certain statements in this press release may be considered forward-looking statements, which depend on future events or conditions and are subject to risks and uncertainties. Factors that could cause actual results to differ materially from those contained in any forward-looking statement include, but are not limited to, changes in general economic and industry-specific conditions, access to capital and financing, LeddarTech's ability to execute its business model, and other risk factors detailed in LeddarTech's reports filed with the U.S. Securities and Exchange Commission (SEC) and on the Company's SEDAR+ profile at www.sedarplus.ca.

LeddarTech does not undertake any obligation to revise or update any forward-looking statement, except as required by applicable law.

For additional information about LeddarTech, please visit their website (www.LeddarTech.com) or follow them on various social media platforms like LinkedIn, Twitter, Facebook, and YouTube.