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VANCOUVER, British Columbia, Sept. 20, 2022 (GLOBE NEWSWIRE) — This press release is issued by Alexander Gray (“Mr. Gray”) in accordance with the alerting requirements of National Instrument 62-104 and National Instrument 62-103 regarding proportional voting shares (the “PV Shares“) of Inspire Semiconductor Holdings Inc. (formerly Greenfield Acquisition Corp.) (the “Transmitter”).
Mr. Gray announces that he has acquired PV Shares pursuant to the reverse takeover (the “Reverse takeover”) of the Issuer by Inspire Semiconductor, Inc. (“Ancient Inspire”), which was completed on September 20, 2022. Pursuant to the Reverse Offer, Old Inspire merged with a wholly-owned subsidiary of the Issuer and the shareholders of Old Inspire became the shareholders of the Issuer. As part of the reverse tender offer, the issuer changed its name to “Inspire Semiconductor Holdings Inc.”. The reverse takeover bid was approved by the shareholders of the Issuer at an annual general and extraordinary meeting held on September 13, 2022. Pursuant to the reverse takeover bid, Mr. Gray received 482,376.37 PV Shares. Mr. Gray acquired 0.01 PV shares in exchange for one (1) share of Old Inspire common stock (the “Former Inspire Actions”), after taking into account: (i) the conversion of the shares (theConversion“) of the Old Inspire Series A, Series A-1 and Series A-2 preferred shares (collectively, the “Former Inspire Preferred Shares“:Stock split”) of Old Inspire Shares completed after the Conversion, whereby each outstanding Old Inspire Share was exchanged for 5.697942 Old Inspire Shares. The conversion and stock split occurred immediately prior to the reverse takeover and acquisition of the resulting issuer shares by Mr. Gray.
Upon completion of the reverse takeover, Mr. Gray acquired beneficial ownership and control of 482,376.37 PV Shares, representing approximately 26.75% of the issued and outstanding PV Shares on an as converted basis.
Mr. Gray acquired the PV Shares for investment purposes and may, depending on market and other conditions, increase or decrease his beneficial ownership, control or direction over the securities of the Issuer by the through market transactions, private agreements, issuances of treasury, exercise of warrants, or otherwise.
The shares of PV acquired pursuant to the reverse takeover were acquired pursuant to the business combination exemption under section 2.11 of NI 45-106 Prospectus and registration exemptions.
For further information and to obtain a copy of the alert report filed under applicable Canadian provincial and territorial securities laws in connection with the transactions described herein, please consult the issuer’s profile on the SEDAR website. (www.sedar.com) or contact John Kennedy at [email protected].
Source: Alexander Gray