On April 9, 2024, Inspire Semiconductor Holdings Inc. closed the transaction. The company issued 6,770 PV Units at a price of CAD 15 per PV Unit for gross proceeds of CAD 101,550 under final tranche. Each PV Unit consists of one proportionate voting share in the capital of the Company and one half of one PV Share purchase warrant of the Company.

Each whole PV Warrant is exercisable for one PV Share at a price per share of CAD 20. The PV Warrants issued have an expiry date of three years from April 5, 2024, being April 5, 2027. The securities issued pursuant to the closing of the Financing are subject to resale restrictions pursuant to applicable securities law requirements until 4 months and one day from their date of issuance, in this case until August 6, 2024.