Inspire Semiconductor Holdings Inc. (TSXV: INSP)
(“
InspireSemi” or the “
Company”),
a chip design company that has built a technology foundation to
deliver revolutionary accelerated computing performance, today
announced the promotions of Doug Norton, formerly Vice President of
Business Development, to Chief Marketing Officer, and Thomas
Fedorko, formerly Vice President of Operations, to Chief Operating
Officer.
“Given the strong response we have received for
our compelling High-Performance Computing (HPC)/AI accelerator
platform, we are pleased to announce these key promotions," said
Ron Van Dell, CEO of InspireSemi. “InspireSemi has consistently
engaged seasoned executives who are leaders in their respective
areas and can scale with the Company. These appointments now
complete our leadership team along with Alex Gray, Founder,
President and CTO, and John B. Kennedy, our CFO. I’m confident Doug
and Thomas will continue to help drive us forward in their new
roles during this period of rapid growth for the Company.”
As Chief Marketing Officer, Mr. Norton will have
direct oversight over all the Company’s sales, marketing and
business development activities. Norton is a senior business
development, sales, and marketing executive with over 35 years of
experience in public and startup enterprise technology companies.
Prior to InspireSemi, Norton held various senior leadership
positions at Cadence Design Systems, CoWare, Newisys, Virtual
Instruments, and Nimbix. He also is President of the Society of HPC
Professionals and member of the RISC-V SIG-HPC and marketing
committee.
As Chief Operating Officer, Mr. Fedorko will
oversee InspireSemi’s day-to-day operational functions including
maintaining key supply chain relationships, managing production
scale up and new product introductions. Prior to InspireSemi,
Fedorko was the Vice President of Operations for Eta Compute who
developed an ultra-low power solution for energy constrained AI
applications. Previously, he led the Operations teams for several
successful startup companies including Uhnder, Bluetechnix
(acquired by Becom), Black Sand Technologies (acquired by
Qualcomm), Luminary Micro (acquired by Texas Instruments) and Oak
Technology (acquired by Zoran).
The appointments are subject to the approval of
the TSX Venture Exchange (the “TSXV”).
Increase to Previously Announced
Non-Brokered Private Placement
The Company also announced that, due to strong demand, it has
increased the size of the previously announced non-brokered private
placement offering of convertible debenture units (the "Units") of
the Company, first announced in a press release dated April 13,
2023, (the “Offering”), by C$2,000,000. The Company will now seek
to raise a total of up to C$4,966,000 pursuant to the Offering in
addition to the issuance of Units to lenders under an amendment to
an existing loan agreement as announced in a press release dated
May 19, 2023 (the “Amendment”).
The Company previously announced by press release dated May 19,
2023 the closing of a first tranche of the Offering consisting of
1,139 Units for gross proceeds of C$1,139,000 meaning the Company
now proposes to issue up to an additional 3,827 Units for gross
proceeds of up to C$3,827,000 under the Offering.
As previously announced by press release dated May 30, 2023. the
Company expects both the Offering and the Amendment to close
on or before June 28, 2023, in one or more tranches.
Please refer to the Company’s press releases dated April 13,
2023, May 19, 2023 and May 30, 2023 for further information.
The closing of the Offering and the Amendment is subject to
receipt of all necessary regulatory approvals, including the
acceptance of the TSXV.
Issuance of Stock Options
The Company also announced its board of directors approved the
grant of stock options dated June 5, 2023 (the "Options") to
certain directors, officers, employees and consultants of the
Company to acquire a total of 4,936,163 subordinate voting shares
in the capital of the Company at an exercise price of $0.09.
All of the Options are exercisable for a ten-year term expiring
June 5, 2033 and were granted pursuant to the Company's omnibus
equity incentive plan (the "Plan"). All of the Options are subject
to the terms of the Plan, applicable option agreements and the
requirements of the TSXV.
1,309,651 of the Options are fully vested as of the date of
grant. 3,551,512 of the Options vest in equal monthly amounts over
4 years, with vesting commencement dates in both January and June
2023. The remaining 75,000 Options vest in equal monthly amounts
over 6 months with a vesting commencement date in June, 2023.
All of the Option grants are subject to the approval of the
TSXV.
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)
471-3230jkennedy@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 and
development; and (ii) expectations for other economic, business,
and/or competitive factors. 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 business and future activities of, and
developments related to, the Company after the date of this press
release;(ii) expected satisfaction of all closing conditions in
connection with the Offering and Amendment, including receipt of
final approval from the TSX Venture Exchange; (iii) expected
completion of the Offering and Amendment upon the terms
contemplated herein and, in any event, on terms that are no less
advantageous to the Company; (iv) expectations for other economic,
business, regulatory and/or competitive factors related to the
Company or the technology industry generally; (v) the risk factors
as described from time to time in documents filed by the Company
with Canadian securities regulatory authorities on SEDAR at
www.sedar.com; 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.
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.
Inspire Semiconductor (TSXV:INSP)
과거 데이터 주식 차트
부터 4월(4) 2024 으로 5월(5) 2024
Inspire Semiconductor (TSXV:INSP)
과거 데이터 주식 차트
부터 5월(5) 2023 으로 5월(5) 2024