Technology

LeddarTech Announces Adjustments to Warrant Exercise Price and Related Terms

Published

11 months ago

February 14, 2024

QUEBEC CITY, Feb. 14, 2024 /PRNewswire/ — LeddarTech Holdings Inc. (“LeddarTech“) (Nasdaq: LDTC), an automotive software company that provides patented disruptive AI-based low-level sensor fusion and perception software technology for ADAS, AD and parking applications, today announced that in accordance with the terms of the outstanding warrants expiring December 21, 2028 (CUSIP: 52328E113) (the “Warrants”) to purchase shares of LeddarTech common stock without par value, the Warrant exercise price will be reduced to US $11.17 per share from the current US $11.50 per share. Corresponding adjustments will be made to the redemption provisions applicable to the Warrants. The adjustments are effective as of the close of business on February 9, 2024.

The adjustments are being made after LeddarTech considered the potentially dilutive impact on the Warrants of the share dividend (the “Prospector Share Dividend”) previously declared and paid by Prospector Capital Corp. (“Prospector”) to non-redeeming Prospector public stockholders at the time of the closing of the business combination between LeddarTech and Prospector, as more fully described in LeddarTech’s public filings with the U.S. Securities and Exchange Commission. The Prospector Share Dividend was not made with respect to any other Prospector or LeddarTech shares issued and outstanding prior to or upon consummation of the business combination.

Pursuant to the terms of the Warrants, LeddarTech retained an independent investment banking firm of recognized national standing who rendered their opinion that an adjusted exercise price of US $11.17, without any adjustment to the number of common shares issuable upon exercise, would be necessary to effectuate the intent and purpose of the anti-dilution provisions set forth in the warrant agreement. Further information on the Warrants and the adjustment to the Warrant exercise price, including the U.S. Federal income tax treatment of this adjustment, is available in the “Investors” section of LeddarTech’s website.

About LeddarTech

A global software company founded in 2007 and headquartered in Quebec City with additional R&D centers in Montreal, Toronto 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 150 patent applications (80 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. 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. 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 and are not guarantees of future performance. Actual results could differ materially from those contained in any forward-looking statement as a result of various factors, including, without limitation: (i) the possibility that anticipated benefits of LeddarTech’s recent business combination will not be realized; (ii) the risk that shareholder litigation in connection with the business combination or other settlements or investigations may result in significant costs of defense, indemnification and liability; (iii) changes in general economic and/or industry-specific conditions; (iv) possible disruptions from the business combination that could harm LeddarTech’s business; (v) the ability of LeddarTech to retain, attract and hire key personnel; (vi) potential adverse reactions or changes to relationships with customers, employees, suppliers or other parties, including as a result of the business combination; (vii) potential business uncertainty, including changes to existing business relationships following the business combination that could affect LeddarTech’s financial performance; (viii) legislative, regulatory and economic developments; (ix) unpredictability and severity of catastrophic events, including, but not limited to, acts of terrorism, outbreak or escalation of war or hostilities and any epidemic, pandemic or disease outbreak (including COVID-19), as well as management’s response to any of the aforementioned factors; (x) access to capital and financing and LeddarTech’s ability to maintain compliance with debt covenants; (xi) LeddarTech’s ability to execute its business model, achieve design wins and generate meaningful revenue; and (xii) other 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 Annual Report on Form 20-F for the fiscal year ended September 30, 2023. 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:
Daniel Aitken, Vice-President, Global Marketing, Communications and Investor Relations, LeddarTech Holdings Inc. Tel.: + 1-418-653-9000 ext. 232 daniel.aitken@LeddarTech.com

Investor relations website: investors.LeddarTech.comInvestor relations contact: Kevin Hunt, ICR Inc. kevin.hunt@icrinc.comFinancial media contact: Dan Brennan, ICR Inc. dan.brennan@icrinc.com

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.”

View original content:https://www.prnewswire.com/apac/news-releases/leddartech-announces-adjustments-to-warrant-exercise-price-and-related-terms-302061284.html

SOURCE LeddarTech Inc.

Technology

UBHOME Collaborates with Qualcomm to Release the Smart Lawn Mower, Co-Creating a New Era of Smart Life

Published

2 hours ago

December 28, 2024

The 2025 CES in the United States is about to unveil a brand-new chapter in the future intelligent home gardening

LAS VEGAS, Dec. 28, 2024 /PRNewswire/ — UBHOME, a sub-brand of UBTECH Robotics, announced an intelligent service robot in collaboration with Qualcomm Technologies, Inc. The Robotic Mower M10 is a revolutionary smart lawn mower announced at the 2025 International Consumer Electronics Show (CES) in the United States. This product is powered by the Qualcomm® RB1 Robotics Platform, showcases UBHOME’s rich experience in robot research and development, and focuses on solving the pain points of traditional lawn-mowing equipment, providing users with a worry-free and labor-saving smart gardening experience, and creates a new model of gardening intelligence.

User-Oriented: The All-New Convenience Brought by the Smart Lawn Mower to Life

The Robotic Mower M10 is not only a high performance tool but also an upgrade of the smart lifestyle. In response to the pain points of users when using traditional lawn-mowing equipment, this product offers a series of practical functions, bringing brand-new convenience to home gardening:

Wireless and Borderless Mowing: There is no need for cumbersome boundary wire installation anymore. The device relies on accurate environmental perception and navigation technology to independently plan the work area, allowing users to use it right out of the box, saving installation time and energy.

Automatic Mowing, Saving Time and Effort: The device can automatically complete the lawn mowing work according to the preset schedule or real-time instructions, enabling users to manage the lawn care through delegation to the mower.

Wide Coverage and Stable Signal: It supports a large-scale signal connection of up to 130,000 square meters. Even for extremely large courtyards, stable operation can be ensured, and there is no need to worry about signal loss.

Real-time Online, in-control Anytime: Through APP remote control and real-time monitoring, users can adjust the mowing plan or check the device status at any time, managing the courtyard work as they like.

The combination of these functions not only greatly simplifies the complexity of mowing work but also liberates users from repetitive physical labor, allowing them to focus on enjoying the wonderful moments of life.

UBHOME: In-depth Layout in Smart Home

UBHOME is a brand under UBTECH Robotics that focuses on providing smart solutions for families. As a world-leading robot enterprise, UBTECH, with its strong R&D strength and technological accumulation, has successfully launched Walker, China’s first commercial bipedal human-sized humanoid robot. The launch of the Robotic Mower M10 by UBHOME this time is an important step in its layout in the smart home field.

Relying on UBTECH’s technological accumulation in robots and its in-depth understanding of user needs, the Robotic Mower M10 achieves the best mowing effect through environmental recognition and dynamic adjustment. Whether it is complex terrain, steep slopes, or high requirements for fine mowing, it can perform perfectly, demonstrating its excellent technical capabilities and brand commitment.

As a global leader in wireless technology and edge intelligence, Qualcomm Technologies provides cutting-edge technical support for the Robotic Mower M10, including intelligent edge computing platforms, dynamic path planning, and environmental perception technologies. These technologies ensure that the device can operate efficiently in various environments, providing users with a precise and efficient smart experience. The Robotic Mower M10 utilizes the Qualcomm RB1 Robotics Platform to ensure the superior operation of the Robotic Mower M10 in large-scale courtyards, laying a solid foundation for realizing smart life.

Industry Significance and Trend: Promoting the Development of Gardening Intelligence

With the continuous increase in the demand for home intelligence, the market for smart gardening equipment is in a period of rapid development. As a typical representative of this trend, the smart lawn mower not only meets consumers’ pursuit of a convenient lifestyle but also provides a direction for the transformation of the gardening industry from tool manufacturing to smart services.

The product released by UBHOME not only fills the gap in the high-performance lawn-mowing equipment market but also sets a new industry benchmark. Through the multiple advantages of wireless, real-time connection, and fully automated operation, it endows home gardening with new value, making users no longer regard mowing as a burden but feel the convenience and fun brought by technology.

Innovation Hand in Hand, Co-creating Smart Life

The collaboration between UBHOME and Qualcomm Technologies showcases a strong collaboration of technology and innovation. Both parties are committed to bringing more convenient and efficient life experiences to consumers through technological innovation.

At the 2025 CES, UBHOME and Qualcomm Technologies will showcase the innovative functions and application scenarios of this Robotic Mower M10.

About UBHOME

UBHOME is a brand under UBTECH Robotics, focusing on providing smart solutions for families. UBTECH is a world-leading robot enterprise dedicated to the research and development and application of artificial intelligence and robot technology and has successfully served more than 900 enterprise-level customers in more than 50 countries around the world.

Media Contact Information
For more information, please contact:
UBHOME Brand Team: mbu-sales@ubtrobot.com

Qualcomm is a trademark or registered trademark of Qualcomm Incorporated. Qualcomm branded products are products of Qualcomm Technologies, Inc. and/or its subsidiaries. 

View original content to download multimedia:https://www.prnewswire.com/news-releases/ubhome-collaborates-with-qualcomm-to-release-the-smart-lawn-mower-co-creating-a-new-era-of-smart-life-302339211.html

SOURCE UBTECH ROBOTICS CORP LTD

Technology

Global Launch of JETOUR T2 i-DM: Reshaping the Hybrid SUV Market

Published

2 hours ago

December 28, 2024

DOHA, Qatar, Dec. 28, 2024 /PRNewswire/ — On December 25, 2024, the First JETOUR Fan’s Festival and the Launch of T2 i-DM was held in Qatar, themed “Think Future”. During the event, JETOUR launched its user brand “Traveler” in the Middle East and its first hybrid model, JETOUR T2 i-DM. The launch event highlights JETOUR’s commitment to exploring sustainable travel modes and ambition to become the “The World’s Leading Brand in Hybrid Off-road Vehicles” under the “Travel+” strategy.

JETOUR T2 i-DM not only inherits the strengths of T2 series, but also achieves high energy efficiency, high performance, high safety, and high intelligence with its advanced hybrid technology, i-DM. With a maximum combined power of 280kW and torque of 610N•m, T2 i-DM boasts a NEDC pure electric range of 139km and an overall range exceeding 1,000km at just 0.8L/100km, addressing range anxiety and promoting green travel.

Mr. Dai Lihong, executive vice president of JETOUR Auto, emphasized technology’s role in producing world-class products. The launch also introduced “Traveler”, enriching user experience through diverse products and superior performance. This year, JETOUR has ranked third in sales across the Qatari auto market. The Fan’s Festival invited user representatives from across the Middle East to witness the unveiling of “Traveler”, experiencing “Travel+” culture through city tours and co-creation workshops.

JETOUR prioritizes users, listening to their needs and co-creating products, brand, and lifestyle. Through “Traveler,” JETOUR aims to provide richer travel experiences and benefits globally, leveraging the platform to spread the “Travel+” culture worldwide. Mr. Alex Tan, Vice President of JETOUR International, said, “Serving ‘JETOUR users’ and being ‘a user-oriented JETOUR’ are JETOUR’s development philosophy. JETOUR will continue to build a travel community centered around users, cars, and lifestyles, sharing the joy of traveling together with users.”

JETOUR also partnered with Diamond League to promote athletics in Qatar and the Middle East, embodying JETOUR Speed and the brand’s image of breakthroughs and innovations. With T2 selling over 150,000 units globally, T2 i-DM will continue its success to meet customers’ needs and reshape the hybrid SUV market.

The launch of T2 i-DM marks JETOUR’s new journey towards “the World’s Leading Brand in Hybrid Off-road Vehicles.” JETOUR plans to introduce more hybrid and off-road models, providing customers with eco-friendly and diversified travel choices. With its innovative spirit and user-oriented philosophy, JETOUR will lead the global automotive industry towards a more sustainable and smarter future.

SOURCE JETOUR AUTO

Technology

My Date with Rural China—-VOC.com.cn Unveils Season Two of I Am in Rural China

Published

4 hours ago

December 28, 2024

CHANGSHA, China, Dec. 28, 2024 /PRNewswire/ — Modern China’s rural revitalization strategy is crafting a remarkable narrative of transformation across the countryside, while progressive opening-up policies encourage foreign visitors to delve deeper into the nation’s heartland. On December 26th, VOC.com.cn premiered the second season of its acclaimed series, I Am in Rural China. The show follows Teona Kvartskhava, an international guest, as she explores the villages of Hunan Province, offering viewers a firsthand look at the dynamic implementation of comprehensive rural revitalization. This captivating series invites a global audience to witness the dawn of a new era in China’s rural landscapes, showcasing the country’s evolving countryside to viewers worldwide.

Rice field came as the first surprise. Hunan is the largest rice grower and producer in China. Hunan provides the high-quality and tasty rice. Teona Kvartskhava, a foreigner hardly feeding on rice, was tempted to have plenty of it. In Qunle Village, Lixian County, Changde, she also experienced “Double Rush”, which is a time-honored agricultural event in China. An event that used to call for the joint efforts of all family members, has now become much easier thanks to technology.

Departing from Lixian County for the moment, Teona Kvartskhava embarked on an exciting trip of tastes in Rucheng, Chenzhou, Southern Hunan. Hunan people are keen and expert on peppery food and spicy taste dominates the Hunan cuisine. Hunan is also rich in varieties of peppers. Jingpo town, a well-known town where spicy food prevails. It is a producer of red cluster pepper, officially one of the hottest peppers in China. From the crowded market, to the red and yellow pepper planting base, and then to the modern processing pepper workshop, the small cluster pepper strung up all corners of the town, so that the original ordinary mountain town has become extraordinarily lively and affluent.

Of course, the “star” of the countryside here is not only agriculture, but also culture, which has also blossomed in this ancient land. As the birthplace of papermaking, China has preserved a unique handmade papermaking technique, which is used to make some “special” papers. In Shanghong Village, Liuyang, Teona Kvartskhava was lucky to meet two Chinese masters, who showed her hands-on experiences of “Gushan Tribute Paper” and “Floral Paper”. As the process progresses, the paper took shape in her hands, as if history and culture were meeting in front of her eyes, and became the “first paper” in Teona Kvartskhava’s life.

So，What’s rural China like? It’s about hospitable peasants, about various agricultural produce, about profound history and culture, about colorful intangible cultural heritage. It’s like a book telling numerous absorbing stories. Hopefully Teona Kvartskhava’ll be luckier to visit more villages for their unique interest and charm.

View original content to download multimedia:https://www.prnewswire.com/news-releases/my-date-with-rural-chinavoccomcn-unveils-season-two-of-i-am-in-rural-china-302339884.html

SOURCE voc.com.cn