Fintech PR
Prospector Capital Corp. Shareholders Approve Previously Announced Business Combination with LeddarTech
Record date for the previously announced issuance of one additional Prospector Class A Share for each non-redeemed Prospector Class A Share will be on the closing date
QUEBEC CITY, Dec. 19, 2023 /PRNewswire/ — LeddarTech Inc.® (“LeddarTech” or the “Company”), an automotive software company that provides patented disruptive AI-based low-level sensor fusion and perception software technology for ADAS and AD, and Prospector Capital Corp. (“Prospector”) (Nasdaq: PRSR, PRSRU, PRSRW), a publicly traded special-purpose acquisition company led by former Qualcomm President Derek Aberle and chaired by former Qualcomm Vice Chairman Steve Altman, today announced that Prospector’s shareholders voted to approve the previously announced business combination between Prospector and LeddarTech Holdings Inc., a company incorporated under the laws of Canada and a wholly owned subsidiary of LeddarTech (“Newco”), at the extraordinary general meeting of Prospector’s shareholders held on December 13, 2023 (the “Extraordinary Special Meeting”).
Voters representing over 85% of the issued and outstanding ordinary shares of Prospector cast votes in favor of the proposal in connection with the business combination at the Extraordinary General Meeting. Prospector shareholders also voted to approve all other proposals presented at the Extraordinary General Meeting. In connection with the Extraordinary General Meeting, shareholders holding an aggregate of 855,440 Prospector Class A ordinary shares (the “Prospector Class A Shares”) exercised their right to redeem their Prospector Class A Shares for approximately US$ 10.91 per share of the funds held in Prospector’s trust account, leaving approximately US$ 14.6 million in cash in the trust account after satisfaction of such redemptions. 1,338,616 Prospector Class A Shares (representing approximately 60% of the total Prospector Class A Shares prior to redemptions) will remain outstanding after satisfaction of such redemptions. Prospector plans to file the results of the Extraordinary General Meeting, as tabulated by the inspector of elections, with the Securities and Exchange Commission (the “SEC”) on a Current Report on Form 8-K.
Upon closing of the transaction, which the parties are working expeditiously to effect, the combined company will operate as LeddarTech Holdings Inc. and is expected to be listed on Nasdaq under the ticker symbol “LDTC”, with warrants under the ticker symbol “LDTCW.”
Additionally, given that the transaction did not close on December 15, 2023 (the previously announced anticipated closing date), Prospector announced that the record date for the previously announced issuance of one additional Prospector Class A Share for each non-redeemed Prospector Class A Share to shareholders holding such non-redeemed Prospector Class A Shares did not occur, and instead will be on the date of the closing of the business combination.
About LeddarTech
A global software company founded in 2007 and headquartered in Quebec City with additional R&D centers in Montreal, Toronto and Tel Aviv, Israel, LeddarTech develops and provides comprehensive AI-based low-level sensor fusion and perception software solutions that enable the deployment of ADAS and autonomous driving (AD) applications. LeddarTech’s automotive-grade software applies advanced AI and computer vision algorithms to generate accurate 3D models of the environment to achieve better decision making and safer navigation. This high-performance, scalable, cost-effective technology is available to OEMs and Tier 1-2 suppliers to efficiently implement automotive and off-road vehicle ADAS solutions.
LeddarTech is responsible for several remote-sensing innovations, with over 150 patent applications (80 granted) that enhance ADAS and AD capabilities. Better awareness around the vehicle is critical in making global mobility safer, more efficient, sustainable and affordable: this is what drives LeddarTech to seek to become the most widely adopted sensor fusion and perception software solution.
Additional information about LeddarTech is accessible at www.LeddarTech.com and on LinkedIn, Twitter (X), Facebook and YouTube.
About Prospector Capital Corp.
Prospector is a special-purpose acquisition company formed for the purpose of effecting a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses with a focus on companies with advanced and highly differentiated solutions for the technology sector. The company is led by a team of experienced investors and executives focused on identifying and investing in high-growth companies with strong management teams and attractive market opportunities. Prospector’s securities are traded on Nasdaq under the ticker symbols “PRSR,” “PRSRU” and “PRSRW.”
Important Information About the Proposed Transaction and Where to Find It
In connection with the proposed business combination, Prospector, LeddarTech and Newco have prepared and filed with the Securities and Exchange Commission (the “SEC”) the Registration Statement on Form F-4 (the “Registration Statement”), and Prospector will mail the proxy statement/prospectus contained within the Registration Statement to its shareholders and file other documents regarding the business combination with the SEC. This press release is not a substitute for any proxy statement, registration statement, proxy statement/prospectus or other documents Prospector or Newco may file with the SEC in connection with the business combination. INVESTORS AND SECURITY HOLDERS ARE URGED TO READ CAREFULLY AND IN THEIR ENTIRETY THE REGISTRATION STATEMENT WHEN IT BECOMES AVAILABLE, ANY AMENDMENTS OR SUPPLEMENTS TO THE REGISTRATION STATEMENT AND OTHER DOCUMENTS FILED BY PROSPECTOR OR NEWCO WITH THE SEC IN CONNECTION WITH THE BUSINESS COMBINATION, BECAUSE THESE DOCUMENTS WILL CONTAIN IMPORTANT INFORMATION. Investors and security holders will be able to obtain free copies of the Registration Statement and other documents filed with the SEC by Prospector or Newco through the website maintained by the SEC at www.sec.gov.
Forward-Looking Statements
Certain statements contained in this press release may be considered forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act and Section 21E of the Exchange Act (which forward-looking statements shall also include forward-looking statements and forward-looking information within the meaning of applicable Canadian securities laws), including, but not limited to, statements regarding the business combination involving Prospector, LeddarTech and Newco, the ability to consummate the business combination and the timing thereof, the anticipated benefits from the business combination, the closing of the private placement financing and expected proceeds therefrom and statements relating to Newco’s anticipated strategy, future operations, prospects, objectives and financial projections and other financial metrics. Forward-looking statements generally include statements that are predictive in nature and depend upon or refer to future events or conditions, and include words such as “may,” “will,” “should,” “would,” “expect,” “anticipate,” “plan,” “likely,” “believe,” “estimate,” “project,” “intend” and other similar expressions among others. Statements that are not historical facts are forward-looking statements. Forward-looking statements are based on current beliefs and assumptions that are subject to risks and uncertainties and are not guarantees of future performance. Actual results could differ materially from those contained in any forward-looking statement as a result of various factors, including, without limitation: (i) the risk that the conditions to the closing of the business combination are not satisfied, including the failure to timely or at all obtain shareholder approval for the business combination or the failure to timely or at all obtain any required regulatory clearances, including of the Superior Court of Justice of Québec; (ii) uncertainties as to the timing of the consummation of the business combination and the ability of each of Prospector, LeddarTech and Newco to consummate the business combination; (iii) the possibility that other anticipated benefits of the business combination will not be realized, and the anticipated tax treatment of the business combination; (iv) the occurrence of any event that could give rise to termination of the business combination; (v) the risk that shareholder litigation in connection with the business combination or other settlements or investigations may affect the timing or occurrence of the business combination or result in significant costs of defense, indemnification and liability; (vi) changes in general economic and/or industry-specific conditions; (vii) possible disruptions from the business combination that could harm LeddarTech’s business; (viii) the ability of LeddarTech to retain, attract and hire key personnel; (ix) potential adverse reactions or changes to relationships with customers, employees, suppliers or other parties resulting from the announcement or completion of the business combination; (x) potential business uncertainty, including changes to existing business relationships, during the pendency of the business combination that could affect LeddarTech’s financial performance; (xi) legislative, regulatory and economic developments; (xii) unpredictability and severity of catastrophic events, including, but not limited to, acts of terrorism, outbreak of war or hostilities and any epidemic, pandemic or disease outbreak (including COVID-19), as well as management’s response to any of the aforementioned factors; (xiii) access to capital and financing and LeddarTech’s ability to maintain compliance with debt covenants; and (xiv) other risk factors as detailed from time to time in Prospector’s reports filed with the SEC, including Prospector’s Annual Report on Form 10-K, periodic Quarterly Reports on Form 10-Q, periodic Current Reports on Form 8-K and other documents filed with the SEC, as well as the risk factors to be contained in the Registration Statement. The foregoing list of important factors is not exhaustive. Neither Prospector nor LeddarTech can give any assurance that the conditions to the business combination will be satisfied. Except as required by applicable law, neither Prospector nor LeddarTech undertakes any obligation to revise or update any forward-looking statement, or to make any other forward-looking statements, whether as a result of new information, future events or otherwise.
No Offer or Solicitation
This press release does not constitute an offer to sell or the solicitation of an offer to buy any securities of Prospector or Newco, a solicitation of any vote or approval, nor shall there be any sale of securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. No offer of securities shall be made except by means of a prospectus meeting the requirements of Section 10 of the Securities Act of 1933, as amended (the “Securities Act”).
Participants in Solicitation
Prospector, LeddarTech and Newco, and certain of their respective directors, executive officers and employees, may be deemed to be participants in the solicitation of proxies in connection with the business combination. Information about the directors and executive officers of Prospector can be found in the Annual Report on Form 10-K for the fiscal year ended December 31, 2022, which was filed with the SEC on March 31, 2023. Information regarding the persons who may, under the rules of the SEC, be deemed participants in the solicitation of proxies in connection with the business combination, including a description of their direct or indirect interests, by security holdings or otherwise, will be set forth in the Registration Statement and other relevant materials when they are filed with the SEC. These documents can be obtained free of charge from the source indicated above.
- Investor relations website: investors.LeddarTech.com
- Investor relations contact: Kevin Hunt, ICR Inc. [email protected]
- Financial media contact: Dan Brennan, ICR Inc. [email protected]
Leddar, LeddarTech, LeddarVision, LeddarSP, VAYADrive, VayaVision and related logos are trademarks or registered trademarks of LeddarTech Inc. and its subsidiaries. All other brands, product names and marks are or may be trademarks or registered trademarks used to identify products or services of their respective owners.
Daniel Aitken, Vice-President, Global Marketing, Communications and Investor Relations, LeddarTech Inc. Tel.: + 1-418-653-9000 ext. 232 daniel.aitken@LeddarTech.com
View original content:https://www.prnewswire.co.uk/news-releases/prospector-capital-corp-shareholders-approve-previously-announced-business-combination-with-leddartech-302019119.html
Fintech PR
Network People Services Technologies Applauded by Frost & Sullivan for Providing Cutting-edge Digital Payment Technology and for Its Market-leading Position
NPST’s innovative technology underscores its commitment to advancing digital payment adoption to meet diverse user needs, and its strategic adaptability establishes it as a pivotal player in India’s financial ecosystem.
SAN ANTONIO, Jan. 15, 2025 /PRNewswire/ — Frost & Sullivan recently researched the payment technology industry and, based on its findings, recognizes Network People Services Technologies Ltd. (NPST) with the 2024 Indian Company of the Year Award.
Its core mission is to provide cutting-edge digital technology to all entities in the financial value chain, ensuring robust support at every stage of the payment process. The company provides banking solutions and payment processing infrastructure that interconnect financial entities within the broader banking and fintech sectors.
Listed on the National Stock Exchange (NSE) SME platform, NPST has significantly shaped India’s digital payments landscape. Its solutions span digital banking, payment switching and processing, merchant acquiring, and RegTech offerings, catering to banks, payment aggregators, merchants, and TPAPs.
With a forward-looking vision encapsulated in its NPST 2.0 strategy—Innovate, Transform, and Grow—the company is driving technological advancements in areas like fraud detection, real-time lending, and embedded payments, enabling transactions through ERP and smart devices such as vehicles, smartwatches, and meters.
NPST is making significant investments in artificial intelligence (AI) and machine learning (ML) to enhance its payment solutions. NPST’s Risk Intelligence Decisioning Platform, a cutting-edge AI-driven operations engine, is supported by a comprehensive data lake that consolidates transaction data. This advanced system allows for the real-time identification of high-risk transactions and merchants. It includes tools designed to enhance compliance and mitigate fraud, such as a merchant trust score, a customer transaction score, and chargeback fraud prevention.
Additionally, the company’s flagship EVOK 3.0 Payments Platform as a Service provides a comprehensive solution for aggregators, gateway providers, and merchants. Covering the entire payment life cycle—from transaction processing to risk management—EVOK 3.0 integrates AI and ML to offer advanced capabilities like multi-bank intelligent routing and predictive fraud intelligence, ensuring efficient management of high transaction volumes.
Other groundbreaking innovations include:
- PayJoy: Seamless access to real-time UPI credit in a country with low credit card penetration.
- Bill Direct: Bill Aggregation engine for deeper penetration in payment collections.
- TimePay Cash: Enabling cash withdrawals using QR codes at local stores.
- UPI Circle: Expanded digital payment access through shared accounts.
- Contextual Payments: Enhanced customer checkout experience.
- UPI Lite Auto-Top Up: Automatically replenishing UPI Lite accounts, ensuring users have sufficient transaction funds.
Rahul Agarwal, Associate director for growth advisory at Frost & Sullivan, observed, “NPST’s achievements, including pioneering online merchant dispute resolution in India and expanding its platform to offer value-added services like AI-powered fraud detection and real-time lending, set it apart in the industry. Its diversification into non-banking financial companies and third-party application providers highlights a well-rounded growth strategy.
NPST consistently prioritizes customer experience, fostering long-term relationships and demonstrating its commitment to client satisfaction and growth. The company’s focus on exceptional service is reflected in the loyalty of some of its clients, with critical partnerships spanning over a decade.
The company is also working to improve payment acceptance infrastructure via access to affordable devices, (QR and SoundBoxes) while integrating AI and ML capabilities to enhance, efficiency, and scalability. These investments support growing transaction volumes and help NPST maintain its competitive edge in facilitating wider digital payment adoption. The company’s emphasis on client relationships, digital literacy, and social responsibility underscores its role as a payment technology leader and its commitment to broader economic and social contributions.
The company’s financial performance reflects strong growth, with revenues increasing from INR 41 crore in fiscal year (FY) 2023 to INR 130 crore in FY 2024, and EBITDA rising from INR 12 crore to INR 43 crore during the same period. NPST’s strategic adaptability establishes it as a pivotal player in India’s financial ecosystem, drives economic growth, and promotes financial inclusion across the country.
“NPST’s advances towards international expansion and transitions to the National Stock Exchange of India main board with emphasis on transparency, governance, and continual innovation, cementing its position as a leader in the global payment technology industry. The company’s exceptional performance, forward-thinking strategies, and commitment to customers and societal impact make it a deserving recipient in India’s payment technology sector,” added Norazah Bachok, best practices research analyst at Frost & Sullivan. With its strong overall performance, NPST earns Frost & Sullivan’s 2024 India Company of the Year Award in the payment technology industry.”
Each year, Frost & Sullivan presents a Company of the Year award to the organization that demonstrates excellence in terms of growth strategy and implementation in its field. The award recognizes a high degree of innovation with products and technologies, and the resulting leadership in terms of customer value and market penetration.
Frost & Sullivan Best Practices awards recognize companies in various regional and global markets for demonstrating outstanding achievement and superior performance in leadership, technological innovation, customer service, and strategic product development. Industry analysts compare market participants and measure performance through in-depth interviews, analyses, and extensive secondary research to identify best practices in the industry.
About Frost & Sullivan
For six decades, Frost & Sullivan has been world-renowned for its role in helping investors, corporate leaders, and governments navigate economic changes and identify disruptive technologies, megatrends, new business models, and companies to action, resulting in a continuous flow of growth opportunities to drive future success. Contact us: Start the discussion. Contact us: Start the discussion.
Contact: Tarini Singh
E: [email protected]
About NPST
Founded in 2013, NPST is a PayTech firm listed on the NSE Small and Medium Exchange. A leader in digital banking and payment processing solutions, NPST is dedicated to advancing the digital payments ecosystem by delivering cutting-edge technology solutions to banks, fintechs, and other industry players. The company’s offerings include online and offline transaction processing, banking super apps, fraud prevention, dispute management, and compliance technology.
NPST’s mission is to drive the growth of businesses, individuals, communities, and economies. With over 100 clients and processing more than 60 million transactions daily, NPST continues to make a significant impact on the digital payments ecosystem. To learn more about NPST and its award-winning solutions, please visit www.npstx.com
Contact: Vanita D’souza
E: [email protected]
Photo – https://mma.prnewswire.com/media/2593622/NPST_Award.jpg
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Welcome to Blocks & Headlines, your comprehensive daily briefing on the transformative world of blockchain. Today, we explore groundbreaking partnerships, economic innovations, and blockchain-powered initiatives redefining the future.
Sony Ventures Into Blockchain With New Identity Solutions
Sony has unveiled its latest blockchain-based digital identity solution designed to enhance privacy and security in the online space. This innovative system uses decentralized technology to manage digital credentials, making identity verification seamless and secure.
Sony’s venture reflects a broader trend among tech giants exploring blockchain’s potential to reshape data privacy and authentication systems.
Source: Sony Press Release
TRON’s Daily Revenue Skyrockets 119% in 2024
TRON has reported a staggering 119% increase in daily revenue, a testament to its innovative blockchain economic models. By leveraging smart contracts and a scalable infrastructure, TRON continues to attract developers and businesses seeking cost-efficient blockchain solutions.
This growth positions TRON as a leading player in the competitive blockchain ecosystem, setting benchmarks for others to follow.
Source: Bitcoin.com
MIGMIG Partners With XT.com to Bring Blockchain Rewards
MIGMIG, a blockchain gaming and rewards platform, has partnered with XT.com to expand its reach and user engagement. This collaboration aims to deliver unique blockchain-powered rewards while enhancing the gaming experience for users worldwide.
The partnership highlights the increasing intersection of blockchain technology and entertainment, opening new avenues for user interaction.
Source: Bitcoinist
Nano Labs Supports the Inaugural Presidential Crypto Ball
Nano Labs has announced a partnership with the Inaugural Presidential Crypto Ball, emphasizing its commitment to fostering blockchain awareness. This high-profile event aims to bridge the gap between blockchain innovators and policymakers, paving the way for broader adoption.
The initiative underscores the importance of collaboration between the blockchain community and governmental bodies to shape the future of digital assets.
Source: PR Newswire
Bybit Card Partners With EnTravel for Luxury Travel Perks
Bybit has teamed up with EnTravel to offer its cardholders exclusive discounts on luxury travel experiences. This partnership integrates blockchain-powered payment solutions with high-end travel services, providing users with unparalleled convenience and value.
The move exemplifies how blockchain technology can enhance traditional industries, offering innovative solutions tailored to modern consumer needs.
Source: PR Newswire
Key Insights and Industry Trends
- Decentralized Identity: Sony’s blockchain-based solution addresses growing concerns over online security and privacy.
- Economic Innovations: TRON’s revenue surge highlights the profitability of scalable blockchain networks.
- Gaming and Blockchain: Partnerships like MIGMIG and XT.com showcase the potential of blockchain in entertainment.
- Policy and Collaboration: Nano Labs’ involvement in the Crypto Ball underscores the importance of industry-government dialogue.
- Luxury Integration: Bybit and EnTravel demonstrate blockchain’s ability to enhance traditional services.
The post Blocks & Headlines: Today in Blockchain ( appeared first on News, Events, Advertising Options.
While Others Decline, the UNBrokerage is Again Named to Entrepreneur’s Prestigious Franchise 500(R) List For its Explosive Growth and Viability
LAGUNA NIGUEL, Calif., Jan. 14, 2025 /PRNewswire/ — Realty ONE Group, a modern, purpose-driven lifestyle brand and ONE of the fastest-growing franchisors in the world, is the No. 1 real estate brand for the fourth year in a row on Entrepreneur’s highly-competitive 2025 Franchise 500® list, just as the global franchisor celebrates its 20th anniversary this year.
This is the ninth year that Realty ONE Group has made the list, continuing to climb the rankings every year, with its closest real estate competitor now nearly 20 positions behind.
“Claiming the No. ONE spot on this widely-esteemed list, for the fourth consecutive year, further fuels the momentum we’re bringing into 2025 and our 20th anniversary,” said Kuba Jewgieniew, CEO and Founder of Realty ONE Group. “And every year, as a result of testimonials like this and from our own raving fans around the world, real estate professionals and entrepreneurs come to us looking to share in the success and be a part of something special and UNique in this industry.”
Entrepreneur named Realty ONE Group International to the list for its network growth, financial strength, and brand power and said in a press release that… “The Franchise 500 is more than a list. It’s really a collection of life-changing opportunities, featuring strong and resilient brands that future franchisees will be proud to be a part of.”
The lifestyle brand continues to evolve all aspects of its full-service offerings, including its proprietary technology zONE, business coaching platforms, ONE University and all aspects of its 6C’s. The UNBrokerage as it is known in the industry has more than 20,000 real estate professionals in more than 450 offices in 49 states, Washington D.C., and 24 more countries, recently expanding into Bonaire and Curacao.
Learn more at www.OwnAOne.com.
About Realty ONE Group International
Realty ONE Group International is one of the fastest growing, modern, purpose-driven lifestyle brands in real estate whose ONE Purpose is to open doors across the globe – ONE home, ONE dream, ONE life at a time. The organization has rapidly grown to more than 20,000 real estate professionals in over 450 locations across 24 countries and territories because of its proven business model, full-service brokerages, dynamic COOLTURE, superior business coaching through ONE University, outstanding support and its proprietary technology, zONE. Realty ONE Group International has been named the number ONE real estate brand by Entrepreneur Magazine for three consecutive years and continues to surge ahead, opening doors, not only for its clients but for real estate professionals and franchise owners. To learn more, visit www.RealtyONEGroup.com.
Logo – https://mma.prnewswire.com/media/260011/realty_one_group___logo.jpg
View original content:https://www.prnewswire.co.uk/news-releases/realty-one-group-is-the-no-1-real-estate-brand-for-the-fourth-year-in-a-row-302350877.html
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