By Josh Beckerman
LeddarTech Holdings shares more than quadrupled after the automotive software company entered a collaboration agreement and software license agreement with Texas Instruments focused on advanced driver assistance systems and autonomous driving.
The stock was recently up to $1.28 and is down about 50% this year. Monday volume was more than 228 million shares, compared with a 65-day average of 287,899.
According to a LeddarTech securities filing, Texas Instruments has agreed to pay a total of $9.89 million to LeddarTech in a series of advanced royalty payments under the license agreement.
LeddarTech has previously worked with Texas Instruments, whose TDA4 family processor is used for the LeddarVision Front-Entry product.
On Monday, LeddarTech also reported credit facility amendments and a maturity extension of a bridge loan.
Write to Josh Beckerman at josh.beckerman@wsj.com
(END) Dow Jones Newswires
December 09, 2024 13:32 ET (18:32 GMT)
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