Inspire Semiconductor Holdings Inc. announced a non-brokered private placement of unsecured convertible bonds for the gross proceeds of CAD 2,000,000 on December 7, 2022. Each unit consists of 1 unsecured convertible debenture and 52 proportionate voting share purchase warrants. Each Debenture will carry a term to maturity of three years and bear interest at a rate of 10.0% per annum and shall be convertible into proportionate voting shares at the election of the applicable holder at a conversion price of CAD 19 per conversion share and subject to certain acceleration rights.

Each warrant entitles the holder to purchase one proportionate voting share at a price of CAD 30 for a term of three years following closing of the transaction. The debentures, warrants and underlying shares issued upon conversion of the Debentures or the exercise of the Warrants, as applicable will be subject to resale restrictions pursuant to applicable securities law requirements comprised of a hold period of four months plus one day from the closing date of the applicable tranche. The finder's fees may be paid upon the funds raised in the transaction.

The transaction is expected to close in multiple tranches. The transaction is subject to the approval of the TSX Venture Exchange.