Source: Inspire Semiconductor Holdings Inc.
Market Herald logo

Find out more about this capital raise

Be the first with the news that moves the market
  • Inspire Semiconductor Holdings (INSP) has announced a non-brokered private placement for gross proceeds of up to $2,000,000
  • Units will consist of an unsecured convertible debenture in a principal amount of C$1,000 and 52 proportionate voting share purchase warrants
  • The proceeds will be used to support the company’s go-forward strategy and general working capital needs
  • Inspire Semiconductor Holdings develops computing solutions for blockchain, HPC, AI, and other computing-intensive industries
  • Inspire Semiconductor Holdings Inc. (INSP) opened trading at C$0.175

Inspire Semiconductor Holdings (INSP) has announced a non-brokered private placement for gross proceeds of up to $2,000,000.

The company will issue units comprised of an unsecured convertible debenture in a principal amount of C$1,000 and 52 proportionate voting share purchase warrants. The financing is expected to close in multiple tranches.

The proceeds will be used to support the company’s go-forward strategy and general working capital needs.

Each debenture will carry a term to maturity of three years and bear interest at a rate of 10 per cent per annum. Each debenture shall be convertible into proportionate voting shares at the election of the applicable holder at a conversion price of C$19.00 per share at any point prior to maturity, subject to certain acceleration rights in favour of the company.

Each warrant entitles the holder to purchase one proportionate voting share at a price of $30.00 per subordinate voting share for a term of three years following the closing of the offering.

Each underlying share issued in connection with the financing will be convertible into 100 subordinate voting shares at the option of the holder.

All securities issued will be subject to a statutory four-month hold period.

Inspire Semiconductor Holdings develops computing solutions for blockchain, HPC, AI, and other computing-intensive industries.

Inspire Semiconductor Holdings Inc. (INSP) opened trading at C$0.175.


More From The Market Herald

" Plurilock (TSXV:PLUR) appoints Blake Corbet to its Board of Directors

The duo-listed cybersecurity solutions provider, Plurilock Security (PLUR), appoints Blake Corbet to its Board of Directors.

" Sylla Gold (TSXV:SYG) closes first tranche of private placement

Sylla Gold (SYG) has closed the first tranche of a non-brokered private placement.

" Sylla Gold (TSXV:SYG) updates private placement

Sylla Gold (SYG) has applied to the TSXV for an extension of its price protection for an additional 30 days.
The Market Herald Video

" Datametrex (TSXV:DM) announces competitor to ChatGPT

Datametrex (DM) subsidiary, Nexalogy, has unveiled a new API engine similar to ChatGPT.