VANCOUVER, British Columbia and AUSTIN, Texas, Jan. 16, 2026 (GLOBE NEWSWIRE) — Inspire Semiconductor Holdings Inc. (“InspireSemi” or the “Company”) is 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.
Today the Company is providing the following administrative updates to ensure it remains compliant with relevant securities regulations.
A further, comprehensive business update for shareholders, along with an Annual General Meeting announcement, will be provided in due course.
Approval of Annual General Meeting extension
The Company announces that it was granted a six month extension by the British Columbia Registrar of Companies and the Exchange, to the period in which it would be required to hold its Annual General Meeting for the year 2025 (the “AGM“). The extension requires the AGM to be held prior to June 30, 2026.
The Company will set a date for the AGM after the Board of Directors confers later this month.
CEO Transition
The Company issued a press release dated September 18, 2025 announcing the retirement of its CEO Ron Van Dell, effective December 31, 2025, to be replaced by the Company’s Executive Chairman, James J. Hickman. The Company confirms that this transition took place as scheduled and that James J. Hickman is now Chairman and CEO of the Company.
Closing of Second Tranche of Financing
In a press release dated September 9, 2025 the Company announced that it would close a second tranche of the financing announced originally in a press release of August 15, 2025. This has now closed and the Company has issued an additional 169,491.50 proportionate voting shares (“PVS”) and 169,491.50 PVS warrants exercisable into one PVS at US$8.85 PVS for 5 years from issuance.
Amendment to Secured Loan
The Company has extended the maturity date of certain loans under the secured loan facility (the “Loan Agreement”) announced by the Company and further described in its press releases dated April 1, April 30, and June 14, 2024, and June 9, 2025. Certain other loans under the Loan Agreement were repaid.
The total amount of principal remaining under the Loan Agreement, being $1,562,381.82, plus accrued interest, will now be due on April 30, 2026.
The expiry dates of 155,949 PVS warrants held by the extending investors were also extended to April 30, 2026.
Option Grants
The Company also announces its Board of Directors approved a grant of stock options dated October 29, 2025 (the “Options“) to certain officers and employees of the Company to acquire a total of 1,485,000 subordinate voting shares in the capital of the Company at an exercise price of US$0.11, i.e. the equivalent of US $11.00 per PVS.
All of the Options are exercisable for a ten-year term expiring October 29, 2035 and were granted pursuant to the Company’s existing omnibus equity incentive plan (the “Plan“). All of the Options are subject to the terms of the Plan and applicable option agreements and are subject to vesting provisions.
All securities issued were issued in reliance on certain prospectus exemptions available under securities legislation and are subject to a four month and one day statutory hold period.
Convertible Debentures
The Company reports that of the outstanding Convertible Debentures (the “Debentures”) issued on January 6, 2023 (see press releases dated January 6, 2023 and February 21, 2023) investors holding $613,000 principal amount of the Debentures converted their Debentures to PVS at a price of $19.00 per PVS resulting in the issuance of 32,259 PVS. The remaining $192,000 of principal was repaid.
In addition, the Company paid $78,500 of accrued interest on the Debentures in cash and a further $2,000 in PVS at a price of $16.00 per PVS for the issuance of 125 PVS.
In consideration for the converting holders agreeing to convert their Debentures the Company extended the expiry date of PVS warrants held by them in respect of the original financing to January 31, 2027.
In connection with the repayment or principal and interest the Company issued, by way of private placement, to an investor:
| (i) | C$192,000 in aggregate principal amount of 8.00% unsecured convertible debentures of the Company and 9,984 PVS Warrants. Each of these debentures shall mature on February 26, 2027 and bear interest at a rate of 8.00% per annum and shall be convertible into PVS at a conversion price of C$19.00 per PVS, subject to certain acceleration rights in favor of the Company. Each PVS Warrant will entitle the holder thereof to acquire 1 PVS at a price of C$30.00 per PVS until February 26, 2027; and | |
| (ii) | C$78,500 in aggregate principal amount of 8.00% unsecured convertible debentures. Each of these debentures matures on February 26, 2027 and bear interest at a rate of 8.00% per annum and shall be convertible into PVS at a conversion price of C$16.00 per PVS, subject to certain acceleration rights in favor of the Company. | |
Currency Conversion of Warrants and Options
The Company has repriced all of its issued and outstanding stock options to be exercisable in US dollars rather than Canadian dollars. The applicable conversion to US$ was done at an FX rate on the date of original issuance of each stock option so there is no increase or decrease in the exercise price.
The 155,949 PVS warrants held by investors who extended their senior loans were also adjusted from Canadian dollars to US$9.00 per PVS warrant.
The Company will discuss Warrant Extension and repricing (from Canadian dollars into US dollars) for other investors at the Annual General Meeting.
Business Update
Again, as this update focuses on administrative matters for regulatory purposes, the Company would like to announce a pure business update to investors in the coming weeks.
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
Jack Cartwright, CFO
(737) 471-3230
invest@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 the Delisting and any future listing. 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. 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 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.
