For clarity, each PV Share issued in connection with the Interest Payment and conversion of the Loan is convertible into 100 SV Shares at the option of the holder and upon the terms outlined in the Company’s articles available as Schedule "A” to the Company’s management information circular dated August 14, 2022 which is available on SEDAR+ at Stock Options The Company also announces its board of directors approved the grant of stock options dated December 31, 2024 (the "Options") to certain directors, officers, employees and consultants of the Company to acquire a total of 6,775,000 SV Shares in the capital of the Company at an exercise price of $0.16.
VANCOUVER, British Columbia and AUSTIN, Texas, Jan.10, 2025 (GLOBE NEWSWIRE) -- Inspire Semiconductor Holdings Inc. ("InspireSemi” or the "Company”), a chip design company that provides revolutionary high-performance, energy-efficient accelerated computing solutions for High Performance Computing (HPC), AI, graph analytics, and other compute-intensive workloads, announces that it has issued an aggregate of 5,031.25 proportionate voting shares in the capital of the Company (the "PV Shares") at a deemed issuance price of $16.00 per PV Share to settle in full $80,500 in interest owing (the "Interest Payment") to the holders of outstanding 10% unsecured convertible debentures issued on January 6, 2023 (the "Debentures").
Forward-looking information is based on currently available competitive, financial and economic data and operating plans, strategies or beliefs as of the date of this presentation, but involve known and unknown risks, uncertainties, assumptions and other factors that may cause the actual results, performance or achievements of InspireSemi, to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information.
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Author / Journalist: Inspire Semiconductor Holdings Inc.
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