On June 13, 2023, LeddarTech Inc., an automotive software company specializing in sensor fusion and perception technology for ADAS and AD, announced a business combination agreement with Prospector Capital Corp., a SPAC, to become publicly listed on NASDAQ under the ticker "LDTC" by the fourth quarter of 2023. This transaction values LeddarTech at U.S. $348 million and is expected to provide up to U.S. $66 million in gross cash proceeds, aimed at funding the commercialization of its software solutions and expanding its product offerings.

LeddarTech’s software, crucial for next-generation ADAS systems, is sensor and processor-agnostic, significantly cutting costs for automotive suppliers. The company, with a strong portfolio of over 150 patents, is positioned in a rapidly growing market, projected to reach U.S. $42 billion by 2030.

CEO Charles Boulanger announced his retirement following the transaction's closure, with Frantz Saintellemy expected to succeed him. Legal advisors for this transaction are Stikeman Elliot LLP and Vedder Price PC for LeddarTech, and Osler, Hoskin and Harcourt LLP and White & Case LLP for Prospector. TD Cowen and Current Capital served as financial advisors, with Goodwin Procter LLP advising TD Cowen.