The stock market debut of Quebec driver assistance software provider LeddarTech will finally take place on Friday on the NASDAQ.
The common shares will trade under the symbol LDTC. The IPO coincides with a transition at the head of the company. Frantz Saintellemy will officially succeed CEO Charles Boulanger.
LeddarTech is going public through a merger with Prospector Capital, a special purpose acquisition company whose shares are already on NASDAQ.
Transactions were expected to begin earlier this week, but Prospector Capital said on Monday that all closing conditions for the proposed deal with LeddarTech had not yet been met.
Prospector shareholders approved the transaction last week, which should give LeddarTech an initial market capitalization of US$348 million and bring in US$66 million.
The money raised must be used to support the activities of the company whose head office is located on Boulevard Hamel in Quebec.