LeddarTech Amends Desjardins Credit Facility
Ticker: LDTDF · Form: 6-K · Filed: Jul 29, 2024 · CIK: 1981462
| Field | Detail |
|---|---|
| Company | Leddartech Holdings Inc. (LDTDF) |
| Form Type | 6-K |
| Filed Date | Jul 29, 2024 |
| Risk Level | medium |
| Pages | 2 |
| Reading Time | 2 min |
| Key Dollar Amounts | $3.5 million, $1.8 million, $1.3 million, $5.0 million |
| Sentiment | neutral |
Sentiment: neutral
Topics: debt, amendment, financing
TL;DR
LeddarTech got a waiver from Desjardins on its credit facility, changing debt terms.
AI Summary
On July 26, 2024, LeddarTech Holdings Inc. entered into a Tenth Amending Agreement, referred to as the "Waiver," with Fédération des caisses Desjardins du Québec ("Desjardins"). This agreement amends the Desjardins Credit Facility, originally dated April 5, 2023. The waiver addresses a requirement for the Company to maintain an unencumbered asset, as previously announced on July 5, 2024.
Why It Matters
This amendment to the credit facility indicates ongoing financial negotiations and potential adjustments to the company's debt obligations, which could impact its financial flexibility.
Risk Assessment
Risk Level: medium — Amendments to credit facilities can signal financial strain or the need for covenant adjustments, which warrants a medium risk assessment.
Key Players & Entities
- LeddarTech Holdings Inc. (company) — Filer of the report and party to the agreement
- Fédération des caisses Desjardins du Québec (company) — Lender and counterparty to the agreement
- July 26, 2024 (date) — Date the Tenth Amending Agreement was entered into
- April 5, 2023 (date) — Original date of the Amended and Restated Financing Offer
- July 5, 2024 (date) — Date of previous announcement regarding the Ninth Amending Agreement
FAQ
What is the specific nature of the "Waiver" granted by Desjardins?
The filing states the waiver is a Tenth Amending Agreement to the Desjardins Credit Facility, amending terms related to the requirement for the Company to maintain an unencumbered asset.
What was the previous announcement regarding the Desjardins Credit Facility?
On July 5, 2024, the Company announced that pursuant to a Ninth Amending Agreement, it was required to maintain an unencumbered asset.
When was the original Desjardins Credit Facility established?
The Amended and Restated Financing Offer, which forms the basis of the Desjardins Credit Facility, was dated as of April 5, 2023.
What is LeddarTech Holdings Inc.'s primary business?
LeddarTech Holdings Inc. is in the business of SERVICES-PREPACKAGED SOFTWARE, as indicated by its Standard Industrial Classification code [7372].
What is the filing type and date?
This is a Form 6-K, filed as of July 29, 2024, for the month of July 2024.
Filing Stats: 614 words · 2 min read · ~2 pages · Grade level 14.3 · Accepted 2024-07-29 09:00:51
Key Financial Figures
- $3.5 million — ldquo;Minimum Cash Covenant”) of C$3.5 million from July 5, 2024 through July 6, 2024,
- $1.8 million — July 5, 2024 through July 6, 2024, and C$1.8 million from July 7, 2024 through July 26, 2024
- $1.3 million — the required Minimum Cash Covenant to C$1.3 million from July 26, 2024 through August 5, 20
- $5.0 million — to maintain a minimum cash balance of C$5.0 million. The foregoing description of the Waiv
Filing Documents
- ea021005801-6k_leddar.htm (6-K) — 13KB
- ea021005801ex10-1_leddar.htm (EX-10.1) — 49KB
- ex10-1_001.jpg (GRAPHIC) — 6KB
- 0001013762-24-001823.txt ( ) — 70KB
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized. LEDDARTECH HOLDINGS INC. By: /s/ David Torralbo Name: David Torralbo, Title: Chief Legal Officer Date: July 29, 2024 2