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VANCOUVER, British Columbia and AUSTIN, Texas, Sept. 01, 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.
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Today the Company is providing the following corporate and financing updates.
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Annual General Meeting
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The Company’s Annual General and Special Meeting of Shareholders (the “Meeting”) will be held on September 24, 2026, at 9:30 a.m. CT in Austin, Texas. Additional information regarding the Meeting, including attendance and voting instructions, will be available in the Company’s management information circular and related materials (the “Meeting Materials”), which will be filed shortly under the Company’s profile on SEDAR+ and posted on the Company’s website at www.inspiresemi.com/investors.
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If any shareholder has not received their voting instructions by mail by one week prior to the Meeting and wishes to vote at the Meeting, the Company encourages those shareholders to contact its transfer agent Odyssey Trust at [email protected] who will be happy to assist with retrieving your individual voting instructions.
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Changing to US Domicile
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The Company continues to advance its previously announced plan to move its corporate home from British Columbia, Canada to Delaware, United States. The move will be carried out by way of a court-approved plan of arrangement (the “Arrangement”). On August 7, 2026, the Supreme Court of British Columbia (the “Court”) granted an interim order allowing the Company to hold a shareholder vote on the Arrangement at the Meeting. Approval requires at least two-thirds of the votes cast by shareholders at the Meeting. If shareholders approve, the Company will return to the Court on September 29, 2026 to seek a final order approving the Arrangement. Completion also remains subject to other customary conditions.
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Your vote is important. Shareholders are encouraged to read the Meeting Materials carefully to understand the Arrangement, how it affects shareholders, and their rights in respect of the Arrangement.
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Convertible Debentures – Conversion and Repayment
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The Company reports on the treatment of the C$5,990,000 aggregate principal amount of 10.00% unsecured convertible debentures of the Company that matured on May 19, 2026 and August 25, 2026 (the “Debentures”) issued by way of private placements closed on May 19, 2023,June 28, 2023, and August 25, 2026, of which C$63,000 had previously been converted to PVS.
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The Company offered the holders of the Debentures (the “Holders”) the opportunity to enter into a conversion agreement (the “Conversion Agreement”) with the Company. Under the Conversion Agreement, a Holder could elect to convert its Debentures to PVS at a price of C$10.50 per PVS, and in consideration the Company would (i) convert all accrued interest on the Debentures at the applicable maturity date to PVS at a price of C$16.00 per PVS, and (ii) issue to such Holder, as of the applicable expiry date of the warrants originally issued with the Debentures, an equal number of replacement warrants (the “Replacement Warrants”). Each Replacement Warrant will be exercisable for one PVS at a price of US$6.00 until one year from the applicable original warrant expiry date.