White & Case Advises Prospector Capital Corp. on Business Combination with LeddarTech Inc.
1 min read
Global law firm White & Case LLP has advised special purpose acquisition company Prospector Capital Corp. on its entry into a definitive business combination agreement with LeddarTech Inc., an automotive software company that provides patented disruptive low-level sensor fusion and perception software technology for advanced driver assistance systems (ADAS) and automated driving systems (ADS). Upon closing of the transaction, LeddarTech will become a publicly listed company, and will be listed on Nasdaq under the ticker symbol LDTC.
The transaction values LeddarTech at a pro-forma equity value of US$348 million and is expected to provide LeddarTech with up to US$66 million in gross cash proceeds, which can be used to fund the commercialization of its first embedded software solutions, expand its product offerings and deepen its customer engagements.
LeddarTech is a provider of industry-leading low-level sensor fusion and perception software for ADAS and ADS. LeddarTech's software solution is both sensor and processor-agnostic, and significantly reduces the cost to original equipment manufacturers and Tier 1 & 2 automotive suppliers, while delivering improved performance and scalability for entry-level to premium ADAS.
The White & Case team was led by Capital Markets partners Joel Rubinstein (New York) and Daniel Nussen (Los Angeles), and M&A associate Gabrielle Hodgson (Silicon Valley). The team also included Capital Markets partner Maia Gez, and associates Audrey Bae, Edmund Gyasi, William Quish (all in New York) and Chad Klitzman (Miami); M&A partners Denise A. Cerasani (New York) and Tali Sealman, and associates Joshua Butler (both in Silicon Valley) and Yuran Cui (Hong Kong); Tax partner Scott Fryman and associate Brandon Dubov (both in New York); and Private Equity associate Elizabeth Fakhoury (Chicago). Law clerk Adyasha Das also assisted on the matter.
For more information please speak to your local media contact.