Summary by Futu AI
LeddarTech, a foreign private issuer, reported to the U.S. Securities and Exchange Commission (SEC) in a Form 6-K filing for August 2024. The company disclosed an amendment to its financing offer with Fédération des caisses Desjardins du Québec, which includes a temporary reduction of the Minimum Cash Covenant and a postponement of interest payments until the earlier of a new equity investment or November 15, 2024. LeddarTech also received notifications from Nasdaq regarding non-compliance with the minimum bid price, minimum market value of publicly held shares (MVPHS), and minimum market value of listed securities (MVLS) requirements for continued listing on the Nasdaq Global Market. The company has until January 25, 2025, and February 3, 2025, respectively, to regain compliance or face potential delisting. LeddarTech is actively seeking to secure financing and is considering options to regain compliance with Nasdaq's listing requirements.