Summary by Futu AI
LeddarTech Holdings Inc., a company listed on Nasdaq under the symbol LDTC, has entered into a Standby Equity Purchase Agreement (SEPA) with Yorkville, effective as of April 15, 2024. The agreement, filed with the SEC on May 29, 2024, allows LeddarTech to sell up to $50 million in common shares over a 36-month period. The company retains the right to terminate the SEPA with a five-day notice, under certain conditions. The sale price for the shares will be at a 3% to 4% discount based on the volume-weighted average price, with a cap on the number of shares Yorkville can own and restrictions on Yorkville's short-selling activities. Proceeds from the SEPA are intended for the repayment of debt under the Desjardins Credit Facility...Show More