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LeddarTech goes public in Business Combination with Prospector Capital Corp
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Dec 21, 2023
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Dec 21, 2023

LeddarTech goes public in Business Combination with Prospector Capital Corp

M&A

  • LeddarTech, a Canadian company offering environmental remote sensing platforms for autonomous vehicles, has become a publicly traded company following the completion of its previously announced business combination with Prospector Capital Corp, a special-purpose acquisition company.

  • Since the transaction announcement, LeddarTech has secured a total of USD 58.6 million in gross capital. This includes USD 44 million through a convertible PIPE (Private Investment in Public Equity) and USD 14.6 million from the SPAC trust. The funds will be utilized to foster the adoption and expansion of LeddarTech's technology.

  • Following the merger, LeddarTech’s former chief operating officer, Frantz Saintellemy, will assume the role of chief executive officer (CEO). Charles Boulanger, the previous CEO, will retire from the CEO role and transition to serving the company as a member of its board of directors.

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