LeddarTech enters into amendments to credit facility, bridge financing

LeddarTech (LDTC) has entered into: a sixteenth amending agreement with Federation des caisses Desjardins du Quebec with respect to the amended and restated financing offer dated as of April 5, 2023, pursuant to which Desjardins has agreed to, among other things, temporarily postpone payment of interest for the months of July through December 2024 until the earlier of the date of the final disbursement of one or several equity investments in the borrower for minimum gross proceeds amount of US$35,000,000 in the aggregate, and March 31, 2025; and increase the minimum cash covenant under the Desjardins Credit Facility to C$7,000,000; a fourth amending agreement with the initial bridge lenders and certain members of management and the board of directors with respect to the bridge financing offer dated as of August 16, 2024 pursuant to which the Bridge Lenders have agreed to, among other things, extend the maturity of the bridge loan to the earlier of March 31, 2025 and the business day following the Short-Term Outside Date. The Sixteenth Amending Agreement to the Desjardins Credit Facility also provides for a monthly payment by LeddarTech to Desjardins of C$125,000, which monthly fee is earned and payable on the first day of each month, until the Short-Term Outside Date, which must occur on or prior to March 31, 2025. The payment of the monthly fees applicable for the month of August 2024 and for the months up until January 2025 is postponed to the earlier of the Short-Term Outside Date, and March 31, 2025.