Inspire Semiconductor Holdings Inc. announces extension of Private Placement

VANCOUVER, British Columbia and AUSTIN, Texas, Jan. 23, 2023 (GLOBE NEWSWIRE) -- Inspire Semiconductor Holdings Inc. ("InspireSemi" or the "Company") INSP announced today that it has extended the closing date for its non-brokered private placement offering of units first announced by news release dated December 7, 2022 (the "Offering") by 30 days.

The Company now expects the offering to close on or about February 20, 2023, subject to the approval of the TSX Venture Exchange. The terms of the Offering are unchanged from those previously reported.

The Company closed the first tranche of the Offering on January 6, 2023, as reported in a news release on the same date.

About InspireSemi

InspireSemi is an Austin-based chip design company that has built a technology foundation that delivers revolutionary performance, energy efficiency, versatility, and a thriving open software ecosystem. This enables us to address multiple diversified, uncorrelated markets of High-Performance Computing (HPC), AI, and blockchain. Led by an accomplished team with a proven track record, it has a unique and strongly differentiated accelerated computing solution compared to existing approaches for these markets

For more information, visit https://inspiresemi.com/
Follow InspireSemi on LinkedIn

Investor Relations Contact
Phil Carlson/Scott Eckstein
KCSA Strategic Communication
inspiresemi@kcsa.com

Company Contact
John B. Kennedy, CFO
(737) 471-3230
jkennedy@inspiresemi.com

Media Contact
Tyler Weiland
Shelton Group
+1-972-571-7834
tweiland@sheltongroup.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. Implicit in this information, particularly in respect of the potential closing of the Offering and the amount to be raised, are assumptions regarding the general market conditions for offerings such as the Offering. These assumptions, although considered reasonable by the Company at the time of preparation, may prove to be incorrect. Readers are cautioned that the closing of the Offering is subject to a number of risks and uncertainties, including relating to general market conditions, and accordingly the Offering may not be able to be completed as currently expected as set out above. The Company does not intend, and does not assume any obligation, to update this forward-looking information except as otherwise required by applicable law.

Neither the TSX Venture nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture) accepts responsibility for the adequacy or accuracy of this release.

THIS PRESS RELEASE SHALL NOT CONSTITUTE AN OFFER TO SELL OR THE SOLICITATION OF AN OFFER TO BUY ANY OF THE SECURITIES DESCRIBED HEREIN, NOR SHALL THERE BE ANY SALE OF THESE SECURITIES IN ANY STATE OR JURISDICTION IN WHICH SUCH OFFER, SOLICITATION OR SALE WOULD BE UNLAWFUL PRIOR TO REGISTRATION OR QUALIFICATION UNDER THE SECURITIES LAWS OF ANY SUCH STATE OR JURISDICTION.