On March 8, 2024, LeddarTech Holdings Inc., a technology company, received comments from the United States Securities and Exchange Commission (SEC) regarding its registration statement on Form F-1, initially filed on February 13, 2024. The SEC's letter to CEO Frantz Saintellemy requested clarifications and amendments to the registration statement, which includes the registration of 20,233,439 shares in a primary offering. The SEC asked LeddarTech to disclose the number of shares being registered for various securities, such as Public Warrants, secured convertible notes, and Company Earnout Non-Voting Special Shares, and to identify shares registered for resale by selling securityholders. The SEC also sought explanations for the primary offering registration rather than the secondary offering and requested additional information on the pricing of securities, the...Show More

On March 8, 2024, LeddarTech Holdings Inc., a technology company, received comments from the United States Securities and Exchange Commission (SEC) regarding its registration statement on Form F-1, initially filed on February 13, 2024. The SEC's letter to CEO Frantz Saintellemy requested clarifications and amendments to the registration statement, which includes the registration of 20,233,439 shares in a primary offering. The SEC asked LeddarTech to disclose the number of shares being registered for various securities, such as Public Warrants, secured convertible notes, and Company Earnout Non-Voting Special Shares, and to identify shares registered for resale by selling securityholders. The SEC also sought explanations for the primary offering registration rather than the secondary offering and requested additional information on the pricing of securities, the exercise prices of warrants compared to market prices, and the potential impact of share sales on the public trading price of the Common Shares. The SEC highlighted concerns about the company's liquidity and capital resources, especially given the significant number of redemptions of Prospector Class A Shares and the unlikelihood of receiving significant proceeds from warrant exercises. The SEC's review process may lead to further comments after LeddarTech responds to the initial queries.