LeddarTech股价上涨14%，获得900万美元过桥融资

2024-08-19 21:25

Automotive software company LeddarTech (NASDAQ:LDTC) said on Monday, it has entered into agreements with its principal shareholders, FS Investors and Investissement Québec, and senior lender, Desjardins for bridge loans of up to $9M.
FS and Investissement Québec have the right to convert their respective loans into common shares at an initial conversion price of $5 per share, representing a premium of 852% of August 16 closing.
FS has agreed to convert $1.5M of its existing convertible notes into shares at conversion price of $2 per share, reducing the company’s convertible note balance by $1.5M.
The bridge financing comprises of two tranches: $6M funding immediate and a second $3M tranche to be funded by October 15.
The bridge loans have a maturity date of November 15, 2024.
The company's board of directors have determined that the company is in “serious financial difficulty” and the loan will help it improve its finances.
The stock price is up 14.3% during pre-market hours of trading.

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