The chief executive of Quebec-headquartered materials company told employees she is stepping down, as the company looks to close a new funding deal, The Information reported. Murray McCaig, a board member at SRTX and co-founder at ArcTern Ventures, told The Logic the board is still working out details and declined to comment. Homuth did not respond to a request for comment. (The Information, The Logic)

Talking point: The company, which makes Sheertex-branded tights, temporarily laid off 40 per cent of its workforce in February, citing the 41 per cent tariff it would incur from the U.S as the reason. SRTX has raised around US$250 million to date, but it’s losing $30 million annually on its tights business and is “not even close” to being profitable yet, Homuth has previously said. “What we need is a big injection of capital. Someone with a lot of willingness to take a moonshot,” she said in an interview with The Logic in December. The company was still looking to speed up the close of its fundraise, Homuth said when announcing the layoffs.