LeddarTech Announces Up To $9M Financing And $1.5M Of Convertible Note Conversions At $2.00 Per Share
Portfolio Pulse from Benzinga Newsdesk
LeddarTech Holdings Inc. (NASDAQ: LDTC) announced a financing agreement with principal shareholders and senior lender for up to $9 million in bridge loans. FS Investors and Investissement Québec have the option to convert their loans into common shares at a premium price. Additionally, FS will convert $1.5 million of existing convertible notes into shares at $2.00 per share.
August 19, 2024 | 12:01 pm
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LeddarTech has secured up to $9 million in bridge loans and converted $1.5 million of existing notes into shares at $2.00 per share. This financing provides the company with additional liquidity and reduces its debt.
The bridge financing and note conversion provide LeddarTech with additional liquidity and reduce its debt, which is positive for the company's financial stability. The conversion price being above market indicates confidence from investors.
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