QUEBEC CITY, Canada, Aug. 06, 2024 (GLOBE NEWSWIRE) -- LeddarTech® Holdings Inc. ("LeddarTech" or the "Company") (NASDAQ:LDTC), an automotive software company that provides patented disruptive AI-based low-level sensor fusion and perception software technology, LeddarVision™, for ADAS, AD and parking applications, announces it entered into an Eleventh Amending Agreement (the "Amendment and Waiver") with Fédération des caisses Desjardins du Québec ("Desjardins") with respect to the Amended and Restated Financing Offer dated as of April 5, 2023 (as amended, the "Desjardins Credit Facility"). As previously announced by the Company on July 5, 2024, pursuant to a Ninth Amending Agreement to the Desjardins Credit Facility, the Company was required to maintain an unencumbered cash balance (the "Minimum Cash Covenant") of C$3.5 million from July 5, 2024 through July 6, 2024, and C$1.8 million from July 7, 2024 through July 26, 2024. Pursuant to a Tenth Amending Agreement to the Desjardins Credit Facility dated July 26, 2024, Desjardins had temporarily reduced the required Minimum Cash Covenant to C$1.3 million from July 26, 2024 through August 5, 2024, after which time the Company was to be obligated to maintain a minimum cash balance of C$5.0 million. Pursuant to the Amendment and Waiver, among other things, Desjardins has agreed to: temporarily reduce the required Minimum Cash Covenant to (i) C$250,000 from August 6, 2024 through August 14, 2024, (ii) C$1,000,000 from August 15, 2024 until the earlier of the Short-Term Outside Date (as defined below) and November 15, 2024, and (iii) C$5,000,000 at all times after the earlier of the Short-Term Outside Date and November 15, 2024; and temporarily postpone payment of interest for the months of July, August, September and October 2024 until the earlier of (x) the date of disbursement of an equity investment in the Borrower for a minimum gross proceeds amount of US$35,000,000 (the "Short-Term Outside Date") and (y) November 15, 2024. The Amendment and Waiver provides for a monthly payment by the Company to Desjardins of C$125,000 until the Short-Term Outside Date, which payments will be due and payable on the earlier of the Short-Term Outside Date and November 15, 2024. The foregoing description of the Amendment and Waiver does not purport to be complete and is qualified in its entirety by reference ...