QUEBEC CITY, Canada, December 09, 2024

LeddarTech® Holdings Inc. (Nasdaq: LDTC), a pioneer in automotive software known for its cutting-edge AI-driven sensor fusion technology, has announced significant developments in its financial and operational strategy. The company has entered into a strategic collaboration with Texas Instruments (TI) aimed at enhancing solutions for Advanced Driver Assistance Systems (ADAS) and the autonomous driving sector.

This collaboration includes a comprehensive software license agreement, which stipulates that TI will provide advanced royalty payments. This financial backing is expected to accelerate the joint commercialization of LeddarTech’s technology, allowing for a quicker pathway to market for innovative automotive solutions.

To align with this partnership, LeddarTech has made amendments to its existing credit facilities. The newest agreement with Fédération des caisses Desjardins du Québec (Desjardins) includes a postponement of interest payments for the latter half of 2024 and a temporary suspension of minimum cash requirements. Specifically, LeddarTech must maintain a minimum cash balance of C$1,000,000 until late December 2024, escalating to C$5,000,000 thereafter.

Additionally, the company has secured a second amendment regarding its bridge financing, extending the loan's maturity to December 13, 2024. This amendment ensures flexibility in repayment terms, which will be automatically updated upon receipt of the full first installment from TI.

LeddarTech, founded in 2007 and headquartered in Quebec, specializes in deploying AI-based low-level sensor fusion and perception technologies for vehicle safety and autonomy. With more than 170 patent applications, LeddarTech continues to innovate in the field, focusing on improving vehicular awareness and navigation safety.

The strategic partnership and financial maneuvers put LeddarTech in a robust position as demand for ADAS and autonomous driving technologies surges. As the automotive industry continues to evolve rapidly towards automation, companies like LeddarTech are critical players to watch.

For ongoing updates, stay connected with LeddarTech through their official website and social media channels. The future of autonomous driving might be closer than we think!