Prospector Capital Corp.: M&A transaction — LeddarTech completes SPAC merger with Prospector Capital, begins trading as LDTC

Prospector Capital Corp.

Business combination closed Dec 21, 2023; LeddarTech shareholders receive ~69.5% of surviving company.
PIPE financing raised ~$44M plus ~$14.6M from SPAC trust, total ~$58.6M gross proceeds.
SPAC redemptions: 855,440 shares redeemed for ~$9.3M at ~$10.91/share.
CEO change: Charles Boulanger retires, Frantz Saintellemy appointed CEO; Derek Aberle becomes Chairman.
LeddarTech common shares and warrants to trade on Nasdaq under tickers LDTC and LDTCW starting Dec 22.

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Key facts

Extracted from this filing and checked against the source text.

M&A Transactions SEC 8-K Item 2.01/5.01 confidence 0.9

Prospector Capital Corp. underwent a change of control involving LeddarTech Inc. for $200 million aggregate equity value (closed 2023-12-21).

Action: change of control
Counterparty: LeddarTech Inc.
Consideration: $200 million aggregate equity value
Closing: 2023-12-21

Exact text from the filing

s of September 25, 2023 (the “BCA”), with LeddarTech Inc., a corporation existing under the laws of Canada (“LeddarTech”),

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Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Prospector Capital Corp. terminated Administrative Support Agreement with Prospector Sponsor LLC.

Action: termination
Counterparty: Prospector Sponsor LLC

Exact text from the filing

that certain Administrative Support Agreement, dated as of January 7, 2021, between Prospector and Prospector Sponsor LLC

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Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Prospector Capital Corp. amended Warrant Agreement Amendment with Continental Stock Transfer & Trust Company.

Action: amendment
Counterparty: Continental Stock Transfer & Trust Company

Exact text from the filing

Prospector, the Surviving Company and Continental Stock Transfer & Trust Company (“Continental”) entered into that certain Warrant Assignment, Assumption and Amendment Agreement (the “Warrant Agreement Amendment”).

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Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Prospector Capital Corp. terminated Investment Management Trust Agreement with Continental Stock Transfer & Trust Company.

Action: termination
Counterparty: Continental Stock Transfer & Trust Company

Exact text from the filing

ompany and Continental Stock Transfer & Trust Company (“Continental”) entered into that certain Warrant Assignment, Assumption

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Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Prospector Capital Corp. terminated Letter Agreement with Prospector Sponsor LLC and each officer and director of Prospector.

Action: termination
Counterparty: Prospector Sponsor LLC and each officer and director of Prospector

Exact text from the filing

the Letter Agreement, dated as of January 7, 2021, made in favor of Prospector by each officer and director of Prospector and the Sponsor

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Source: SEC EDGAR

accession 0001213900-23-099248

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