VANCOUVER, British Columbia and AUSTIN, Texas , April 21, 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, is pleased to announce that today it is providing a general business update by live webinar at 11:00 a.m. (Eastern Time).
Key topics the business update covers include:
- Announcement that the Company’s improved flagship Thunderbird 1 product has been sent for production with first wafers expected to be in hand in July, 2025
- Operations between now and return of first wafers and plan for production readiness
- Impact of tariffs on the Company
- Update on Market, Customer and sales outlook
- A further financing commitment for US$3M expected to close in May, 2025 as further discussed below
To join the Business Update please use the following Zoom link:
https://us06web.zoom.us/j/86002651511?pwd=WhCXFooqXIizSQhNUZkFIsTdu7ABKs.1
Webinar ID: 860 0265 1511
Passcode: 858696
Telephone dial in numbers are available at https://us06web.zoom.us/u/kcUeWRY0rn
A recording of the business update will be made available in the Investors section of the Company’s website at https://inspiresemi.com/investors/.
Details of Additional Funding
The Company has received a funding commitment for a private placement comprised of proportionate voting share units (“PV Units”) for total proceeds of US$3,000,000.10 (the “Financing”). The Financing will be wholly subscribed for by the investor (the “Investor”) who previously subscribed under the convertible loan agreement dated September 23, 2024 (as described in the Company’s press release dated September 23, 2024) pursuant to the Investor’s right of first refusal thereunder.
On closing the Investor will be issued PV Units at a price per PV Unit of US$9.50. Each PV Unit consists of one proportionate voting share in the capital of the Company (each a “PV Share”) and one half of one PV Share purchase warrant of the Company (each whole warrant a “PV Warrant”). Each whole PV Warrant will be exercisable for one PV Share at a price per share of US$9.50.
The Company expects the Financing to close in May 2025, and will provide further updates on the same by further press release.
About InspireSemi
InspireSemi provides revolutionary high-performance, energy-efficient accelerated computing solutions for High-Performance Computing (HPC), AI, graph analytics, and other compute-intensive workloads. The Thunderbird I ‘supercomputer-cluster-on-a-chip’ is a disruptive, next-generation datacenter accelerator designed to address multiple underserved and diversified industries, including financial services, computer-aided engineering, energy, climate modeling, cybersecurity, and life sciences & drug discovery. Based on the open standard RISC-V instruction set architecture, InspireSemi’s solutions set new standards of performance, energy efficiency, and ease of programming. InspireSemi is headquartered in Austin, TX.
For more information visit https://inspiresemi.com
Follow InspireSemi on LinkedIn
Company Contact
Ron Van Dell, CEO
(737) 471-3230
rvandell@inspiresemi.com
Cautionary Statement on Forward-Looking Information
This press release contains certain statements that constitute forward-looking information within the meaning of applicable securities laws (“forward-looking statements”). Statements concerning InspireSemi’s objectives, goals, strategies, priorities, intentions, plans, beliefs, expectations and estimates, and the business, operations, financial performance and condition of InspireSemi are forward-looking statements. Often, but not always, forward-looking information can be identified by the use of words such as “plans”, “expects”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates”, or “believes” or variations (including negative variations) of such words and phrases, or statements formed in the future tense or indicating that certain actions, events or results “may”, “could”, “would”, “might” or “will” (or other variations of the forgoing) be taken, occur, be achieved, or come to pass.
Forward-looking information includes, but is not limited to, information regarding: (i) the business plans and expectations of the Company including expectations with respect to production of Thunderbird I and development of future projects and; (ii) expectations for other economic, business, and/or competitive factors; and (iii) expectations regarding the Financing. 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. Such factors may be based on information currently available to the Company including information obtained from third-party industry analysts and other third-party sources and are based on management’s current expectations or beliefs. Any and all forward-looking information contained in this news release is expressly qualified by this cautionary statement.
Investors are cautioned that forward-looking information is not based on historical facts but instead reflect management’s expectations, estimates or projections concerning future results or events based on the opinions, assumptions and estimates of management considered reasonable at the date the statements are made. Forward-looking information reflects management’s current beliefs and is based on information currently available to them and on assumptions they believe to be not unreasonable in light of all of the circumstances. In some instances, material factors or assumptions are discussed in this news release in connection with statements containing forward-looking information. Such material factors and assumptions include, but are not limited to: (i) statements relating to the expected performance and production timeline of Thunderbird I (ii) business and future activities of, and developments related to, the Company after the date of this press release; (iii) the closing of the Financing (iv) expectations for other economic, business, regulatory and/or competitive factors related to the Company or the technology industry generally; (v) the risk factors referenced in this news release and as described from time to time in documents filed by the Company with Canadian securities regulatory authorities on SEDAR+ at http://www.sedarplus.ca; and (vi) other events or conditions that may occur in the future. Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking information, there may be other factors that cause actions, events or results to differ from those anticipated, estimated or intended. Forward-looking information contained herein is made as of the date of this news release and, other than as required by law, the Company disclaims any obligation to update any forward-looking information, whether as a result of new information, future events or results or otherwise. There can be no assurance that forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information.
Should one or more of these risks or uncertainties materialize, or should assumptions underlying the forward-looking information prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, believed, estimated or expected. Although the Company has attempted to identify important risks, uncertainties and factors which could cause actual results to differ materially, there may be others that cause results not to be as anticipated, estimated or intended. The Company does not intend, and does not assume any obligation, to update this forward-looking information except as otherwise required by applicable law.
