{"id":794699,"date":"2024-12-12T16:31:31","date_gmt":"2024-12-12T21:31:31","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/leddartech-announces-receipt-of-the-first-installment-of-the-ti-pre-paid-royalty-fee\/"},"modified":"2024-12-12T16:31:31","modified_gmt":"2024-12-12T21:31:31","slug":"leddartech-announces-receipt-of-the-first-installment-of-the-ti-pre-paid-royalty-fee","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/leddartech-announces-receipt-of-the-first-installment-of-the-ti-pre-paid-royalty-fee\/","title":{"rendered":"LeddarTech Announces Receipt of the First Installment of the TI Pre-Paid Royalty Fee"},"content":{"rendered":"

\nConditions in the Amendments to Credit Facility and Bridge Financing Offer that were related to the receipt of the First Installment of the TI Pre-Paid Royalty Fee have been met
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QUEBEC CITY, Canada, Dec. 12, 2024 (GLOBE NEWSWIRE) — LeddarTech<\/a>\u00ae<\/sup><\/a> Holdings Inc.<\/a> (\u201cLeddarTech\u201d) (Nasdaq: LDTC<\/a>), an automotive software company that provides patented disruptive AI-based low-level sensor fusion and perception software technology, LeddarVision<\/a>\u2122, today announced that it has received the first full installment of the advanced royalty payments provided under the strategic collaboration agreement and software license agreement entered into between LeddarTech and Texas Instruments<\/a> (\u201cTI\u201d), as announced on December 9, 2024<\/a>, to enable a comprehensive, integrated platform solution for advanced driver assistance systems (ADAS) and autonomous driving (AD) markets. Under the license agreement, TI has agreed to make advanced royalty payments to catalyze joint commercialization (the \u201cTI Pre-paid Royalty Fee\u201d).<\/p>\n

In connection with the collaboration and license agreements with TI and the TI Pre-paid Royalty Fee, LeddarTech also announced on December 9, 2024<\/a> that it entered into a fourteenth amending agreement (the \u201cFourteenth Amending Agreement\u201d) with F\u00e9d\u00e9ration des caisses Desjardins du Qu\u00e9bec (\u201cDesjardins\u201d) with respect to the amended and restated financing offer dated as of April 5, 2023 (the \u201cDesjardins Credit Facility\u201d) and a second amending agreement (the \u201cSecond Amending Agreement\u201d) with the initial bridge lenders and certain members of management and the board of directors (collectively, the \u201cBridge Lenders\u201d) with respect to the bridge financing offer dated as of August 16, 2024 (the \u201cBridge Financing Offer\u201d). Both the Fourteenth Amending Agreement and the Second Amending Agreement contain certain conditions that were to become applicable in the event that the full first installment of the TI Pre-paid Royalty Fee was not received by December 13, 2024. With the payment received, the conditions have been met to establish the short-term outside date as late as January 31, 2025. Please refer to the press release of December 9, 2024 for further details as well as the Fourteenth Amending Agreement to the Desjardins Credit Facility and the Second Amending Agreement to the Bridge Financing Offer which have been filed under LeddarTech\u2019s SEDAR+ and EDGAR profiles at www.sedarplus.ca<\/a> and www.sec.gov<\/a>, respectively.<\/p>\n

\n About LeddarTech<\/strong>\n <\/p>\n

A global software company founded in 2007 and headquartered in Quebec City with additional R&D centers in Montreal and Tel Aviv, Israel, LeddarTech develops and provides comprehensive AI-based low-level sensor fusion and perception software solutions that enable the deployment of ADAS, autonomous driving (AD) and parking applications. LeddarTech\u2019s automotive-grade software applies advanced AI and computer vision algorithms to generate accurate 3D models of the environment to achieve better decision making and safer navigation. This high-performance, scalable, cost-effective technology is available to OEMs and Tier 1-2 suppliers to efficiently implement automotive and off-road vehicle ADAS solutions.<\/p>\n

LeddarTech is responsible for several remote-sensing innovations, with over 170\u00a0patent applications (87 granted) that enhance ADAS, AD and parking capabilities. Better awareness around the vehicle is critical in making global mobility safer, more efficient, sustainable and affordable: this is what drives LeddarTech to seek to become the most widely adopted sensor fusion and perception software solution.<\/p>\n

Additional information about LeddarTech is accessible at www.LeddarTech.com<\/a> and on LinkedIn<\/a>, Twitter (X)<\/a>, Facebook<\/a> and YouTube<\/a>.<\/p>\n

\n Forward-Looking Statements<\/strong>\n <\/p>\n

Certain statements contained in this Press Release may be considered forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended (which forward-looking statements also include forward-looking statements and forward-looking information within the meaning of applicable Canadian securities laws), including, but not limited to, statements relating to LeddarTech\u2019s anticipated strategy, future operations, prospects, objectives and financial projections and other financial metrics. Forward-looking statements generally include statements that are predictive in nature and depend upon or refer to future events or conditions, and include words such as \u201cmay,\u201d \u201cwill,\u201d \u201cshould,\u201d \u201cwould,\u201d \u201cexpect,\u201d \u201canticipate,\u201d \u201cplan,\u201d \u201clikely,\u201d \u201cbelieve,\u201d \u201cestimate,\u201d \u201cproject,\u201d \u201cintend\u201d and other similar expressions among others. Statements that are not historical facts are forward-looking statements. Forward-looking statements are based on current beliefs and assumptions that are subject to risks and uncertainties and are not guarantees of future performance. Actual results could differ materially from those contained in any forward-looking statement as a result of various factors, including, without limitation: (i) the possibility that anticipated benefits of LeddarTech\u2019s recent business combination will not be realized; (ii) the risk that shareholder litigation in connection with the business combination or other settlements or investigations may result in significant costs of defense, indemnification and liability; (iii) changes in general economic and\/or industry-specific conditions; (iv) possible disruptions from the business combination that could harm LeddarTech\u2019s business; (v) the ability of LeddarTech to retain, attract and hire key personnel; (vi) potential adverse reactions or changes to relationships with customers, employees, suppliers or other parties; (vii) potential business uncertainty, including changes to existing business relationships following the business combination that could affect LeddarTech\u2019s financial performance; (viii) legislative, regulatory and economic developments; (ix)\u00a0unpredictability and severity of catastrophic events, including, but not limited to, acts of terrorism, outbreak or escalation of war or hostilities and any epidemic, pandemic or disease outbreak (including COVID-19), as well as management\u2019s response to any of the aforementioned factors; (x) access to capital and financing and LeddarTech\u2019s ability to maintain compliance with debt covenants; (xi) LeddarTech\u2019s ability to execute its business model, achieve design wins and generate meaningful revenue; and (xii) other risk factors as detailed from time to time in LeddarTech\u2019s reports filed with the U.S. Securities and Exchange Commission (the \u201cSEC\u201d), including the risk factors contained in LeddarTech\u2019s Annual Report on Form 20-F for the fiscal year ended September 30, 2023. The foregoing list of important factors is not exhaustive. Except as required by applicable law, LeddarTech does not undertake any obligation to revise or update any forward-looking statement, or to make any other forward-looking statements, whether as a result of new information, future events or otherwise.<\/p>\n

\n Contact:<\/strong>
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Daniel Aitken, Vice-President, Global Marketing, Communications and Investor Relations, LeddarTech Holdings Inc. Tel.: + 1-418-653-9000 ext. 232 daniel.aitken@LeddarTech.com<\/a><\/p>\n