QUEBEC CITY, Canada, June 11, 2025 (GLOBE NEWSWIRE) -- LeddarTech® Holdings Inc. ("LeddarTech" or the "Company") (NASDAQ:LDTC), an AI-powered software company recognized for its innovation in advanced driver assistance systems (ADAS) and autonomous driving (AD), today announces that, as a result of the cessation of the Company's discussions with a significant potential commercial counterpart and in light of the Company's current financial position, the Company has laid off most of its employees and will no longer be calling back any employees that were previously furloughed.
The board of directors of the Company is continuing its previously announced review of alternatives that may be available to the Company. These alternatives include, but are not limited to, a sale of the business or certain of its assets, an orderly dissolution, restructuring activities, a potential assignment into bankruptcy, or other insolvency proceedings under applicable legislation. There can be no assurance that the review process will result in any transaction or alternative, or that the Company will be able to avoid an assignment into bankruptcy or other insolvency protection proceedings.
Pending the outcome of this process, LeddarTech does not expect to resume active operations and cautions investors that there is significant risk that holders of our securities will receive little to no value in any bankruptcy and insolvency process. Further announcements regarding the status of the Company's process will be made as developments warrant.
Trading of the Company's common shares and warrants on the Nasdaq may be halted as a result of filing under insolvency or bankruptcy laws.
About LeddarTech
A global software company founded in 2007 and headquartered in Quebec City with additional R&D centers in Montreal and Tel Aviv, Israel, LeddarTech develops and provides comprehensive AI-based low-level sensor fusion and perception software solutions that enable the deployment of ADAS, autonomous driving (AD) and parking applications. LeddarTech's automotive-grade software applies advanced AI and computer vision algorithms to generate accurate 3D models of the environment to achieve better decision making and safer navigation. This high-performance, scalable, cost-effective technology is available to OEMs and Tier 1-2 suppliers to efficiently implement automotive and off- road vehicle ADAS solutions.
LeddarTech is responsible for several remote-sensing innovations, with over 190 patent applications (112 granted) that enhance ADAS, AD and parking capabilities. Better awareness around the vehicle is critical in making global mobility safer, more efficient, sustainable and affordable: this is what drives LeddarTech to seek to become the most widely adopted sensor fusion and perception software solution.
Additional information about LeddarTech is accessible at www.leddartech.com and on LinkedIn, Twitter (X), Facebook and YouTube.
Forward-Looking Statements
Certain statements contained in this Press Release may be considered forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended (which forward-looking statements also include forward-looking statements and forward-looking information within the meaning of applicable Canadian securities laws), including, but not limited to, statements relating to LeddarTech's anticipated strategy, future operations, prospects, objectives and financial projections and other financial metrics, as well as expectations regarding the anticipated performance, adoption and commercialization of its products. Forward-looking statements generally include statements that are predictive in nature and depend upon or refer to future events or conditions, and include words such as "may," "will," "should," "would," "expect," "anticipate," "plan," "likely," "believe," "estimate," "project," "intend" and other similar expressions among others. Forward-looking statements in this press release include, without limitation, statements regarding the issuance of cease trade orders, the bankruptcy or insolvency proceedings, the potential for shareholder value recovery, and the Company's financial position. Statements that are not historical facts are forward-looking statements. Forward-looking statements are based on current beliefs and assumptions that are subject to risks and uncertainties, including the risk factors as detailed from time to time in LeddarTech's reports filed with the U.S. Securities and Exchange Commission (the "SEC"), including the risk factors contained in LeddarTech's Form 20-F filed with the SEC. The foregoing list of important factors is not exhaustive. Except as required by applicable law, LeddarTech does not undertake any obligation to revise or update any forward-looking statement, or to make any other forward-looking statements, whether as a result of new information, future events or otherwise.
Contact:
Chris Stewart, Chief Financial Officer, LeddarTech Holdings Inc. Tel.: + 1-514-427-0858, [email protected]
- Investor relations website: investors.leddartech.com
- Investor relations contact: Mike Bishop, [email protected]
Leddar, LeddarTech, LeddarVision, LeddarSP, VAYADrive, VayaVision and related logos are trademarks or registered trademarks of LeddarTech Holdings Inc. and its subsidiaries. All other brands, product names and marks are or may be trademarks or registered trademarks used to identify products or services of their respective owners.
LeddarTech Holdings Inc. is a public company listed on the Nasdaq under the ticker symbol "LDTC."
