Ex-Qualcomm Executives Bet on Automotive AI in Canada SPAC Deal
- LeddarTech pursues Nasdaq listing, access to new financing
- Driver assistance software is ‘a big market that’s here today’
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Canada’s market for initial public offerings is in a deep freeze. A Quebec company that’s developing software for self-driving vehicles aims to sidestep that problem through a merger with a US-listed blank-check firm that’s backed by former Qualcomm Inc. executives.
LeddarTech Inc. is moving towards a Nasdaq listing by merging with special purpose acquisition company Prospector Capital Corp. Prospector shareholders are due to vote Wednesday on the proposed deal, which values the business at $348 million.