Canadian automotive software company LeddarTech intends to go public

 

Canadian automotive software company LeddarTech intends to go public via a SPAC merger with blank check firm Prospector Capital Corp.  The transaction will give the firm a pro forma equity valuation of $348M. Per Crunchbase, LeddarTech has raised $347.5M in equity and debt funding from investors to date.  LeddarTech is set to receive $66M in gross proceeds, consisting of $23M from the blank check entity and the remaining $43M from a private investment in public equity (PIPE) transaction.  The firm intends to use the incoming proceeds to commercialize its embedded software solutions and expand its product line.  The blank check company is led by Qualcomm's former president Derek Aberle and raised $325M through an initial offering in 2021.