LeddarTech Modifies Warrant Exercise Price

LeddarTech Holdings Inc. has made a significant announcement regarding the adjustment of the outstanding warrants expiring December 21, 2028, to purchase shares of LeddarTech common stock without a par value (the “Warrants”). LeddarTech announced that in accordance with the terms of the Warrants, the Warrant exercise price will be reduced to US$11.17 per share from the current US$11.50 per share, and corresponding adjustments will be made to the redemption provisions applicable to the Warrants, effective as of the close of business on February 9, 2024.

The adjustments are a consequence of LeddarTech’s consideration of the potentially dilutive impact on the Warrants of the share dividend (the “Prospector Share Dividend”) that was previously declared and paid by Prospector Capital Corp. to non-redeeming Prospector public stockholders at the time of the closing of the business combination between LeddarTech and Prospector. It is important to note that the Prospector Share Dividend was not made with respect to any other Prospector or LeddarTech shares issued and outstanding prior to or upon the consummation of the business combination.

To effectuate the intent and purpose of the anti-dilution provisions set forth in the warrant agreement, LeddarTech retained an independent investment banking firm of recognized national standing who rendered their opinion that an adjusted exercise price of US$11.17, without any adjustment to the number of common shares issuable upon exercise, would be necessary. Additional information on the Warrants and the adjustment to the Warrant exercise price, including the U.S. federal income tax treatment of this adjustment, is available in the “Investors” section of LeddarTech’s website.

About LeddarTech

Established in 2007 with headquarters in Quebec City, LeddarTech is a global software company that develops and provides comprehensive AI-based low-level sensor fusion and perception software solutions. These enable the deployment of Advanced Driver Assistance Systems (ADAS), autonomous driving (AD), and parking applications. LeddarTech’s automotive-grade software applies advanced AI and computer vision algorithms to generate accurate 3D models of the environment, leading to better decision making and safer navigation. This high-performance, scalable, cost-effective technology is available to Original Equipment Manufacturers (OEMs) and Tier 1-2 suppliers to efficiently implement automotive and off-road vehicle ADAS solutions.

LeddarTech has numerous remote-sensing innovations, with over 150 patent applications (80 granted) that enhance ADAS, AD, and parking capabilities. The company aims to make global mobility safer, more efficient, sustainable, and affordable, and to become the most widely adopted sensor fusion and perception software solution.

Contact: Daniel Aitken, Vice-President, Global Marketing, Communications and Investor Relations, LeddarTech Holdings Inc. Tel.: + 1-418-653-9000 ext. 232

Leddar, LeddarTech, LeddarVision, LeddarSP, VAYADrive, VayaVision, and related logos are trademarks or registered trademarks of LeddarTech Holdings Inc.

LeddarTech Holdings Inc. is a public company listed on the Nasdaq under the ticker symbol “LDTC.”

SOURCE LeddarTech Inc.

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