DORADO, Puerto Rico and VANCOUVER, British Columbia , Feb. 04, 2025 (GLOBE NEWSWIRE) -- This news release is issued by Terren Peizer ("Mr. Peizer”) pursuant to the early warning requirements of Canada's National Instrument 62-104 and National Instrument 62-103 with respect to proportionate voting shares ("PVS”) and proportionate voting share warrants ("PVS Warrants”) of Inspire Semiconductor Holdings Inc. (the "Issuer”).
Mr. Peizer announces that, through his wholly owned corporation, Humanitario Capital LLC. ("Humanitario”), he has acquired PVS and PVS Warrants in connection with the conversion (the "Conversion”) of a C$10,000,000 loan made to the Issuer pursuant to a loan agreement dated September 23, 2024. The issuance of the securities described hereby was entirely contingent upon the delisting of the Issuer's subordinate voting shares ("SVS”) from the TSX Venture Exchange which occurred on December 31, 2024.
Pursuant to the Conversion, Humantario was issued 740,740.74 PVS and 740,740 PVS Warrants representing approximately 26.78% of the issued and outstanding SVS on a basic basis and approximately 42.25% of the issued and outstanding SVS on a partially-diluted basis, after giving effect only to the exercise of the PVS Warrants held by Humanitario.
Each PVS is convertible at the option of the holder in 100 SVS pursuant to the Issuer's articles. Each of the foregoing percentages assumes the conversion of all issued and outstanding PVS to SVS.
Mr. Peizer (through Humanitario) acquired the Shares for investment purposes and may, depending on market and other conditions, increase or decrease his beneficial ownership, control, or direction over securities of the Issuer through market transactions, private agreements, treasury issuances, exercise of warrants, or otherwise.
For further information and to obtain a copy of the early warning report filed under applicable Canadian provincial and territorial securities legislation in connection with the transactions described herein, please go to the Issuer's profile on the SEDAR+ website (www.sedarplus.ca) or contact the Company at [email protected]
