Summary by Futu AI
On July 5, 2024, LeddarTech Holdings Inc. entered into an agreement with Fédération des caisses Desjardins du Québec to amend the terms of their existing credit facility. The amendment, known as the Ninth Amending Agreement, temporarily reduces the company's required minimum unencumbered cash balance. The reduction is from C$5.0 million to C$3.5 million for the period of July 5 through July 6, 2024, and further to C$1.8 million from July 7 through July 26, 2024. After this period, the minimum cash balance requirement will revert to C$5.0 million. This waiver is detailed in Exhibit 10.1, attached to the company's report. Additionally, LeddarTech has received non-binding indications of interest from principal shareholders to invest up to US$9.7 million, contingent upon the company securing outside capital through a proposed financing transaction. However, there is no guarantee that these shareholders will commit to the investment or that the financing transaction will be successful.