Inspire Semiconductor Holdings Inc. announced a non-brokered private placement of units for the gross proceeds of CAD 4,000,000 on April 13, 2023. Each units consists of an unsecured convertible debenture in a principal amount of CAD 1,000 and 95 proportionate voting share purchase warrants. The financing is expected to close in multiple tranches.

Each debenture will carry a term to maturity of three years and bear interest at a rate of 10.0% per annum. Each debenture shall be convertible into proportionate voting shares of the company at the election of the applicable holder at a conversion price of CAD 10.50 per conversion share at any point prior to maturity. Each warrant entitles the holder to purchase one proportionate voting share in the capital of the company at a price of CAD 10.50 for a term of three years following closing of the financing.

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 financing and finder's fees are subject to the approval of the TSX Venture Exchange.