LeddarTech Holdings Inc., an AI-driven software company specializing in advanced driver assistance systems and autonomous driving, has announced significant developments in its financial restructuring efforts. The company is actively engaged in discussions with its lenders, including Fédération des caisses Desjardins du Québec and its Bridge Lenders, but has yet to secure additional financing or relief from existing financial covenants. To conserve cash, LeddarTech has implemented temporary layoffs affecting approximately 95% of its workforce, or about 138 employees, across all departments and locations. This measure aims to provide the company more time to explore various strategic alternatives, including restructuring, asset sales, strategic investments, or seeking creditor protection. However, there is no guarantee of success or a clear timeline for these potential outcomes.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.