InspireSemi Announces Strategic Advisory Agreement with Woodside Capital Partners
VANCOUVER, British Columbia and AUSTIN, Texas – April 3, 2023 – Inspire Semiconductor Holdings Inc. (TSXV: INSP) (“InspireSemi” or the “Company”), a chip design company that has built a technology foundation to deliver revolutionary performance, announced that it has entered into a new strategic advisory services agreement (the “Agreement”) with Woodside Capital Partners (“Woodside Capital”), dated March 31, 2023. Under the Agreement, Woodside Capital will provide InspireSemi with general advisory and investment banking services, including assistance in identifying potential strategic investors or relationships.
The Agreement provides for an initial term of two months, after which the parties, by mutual agreement, may extend the term for an additional six months, and then on a month-to-month basis thereafter. The Agreement provides for certain monthly retainers as well as additional compensation to be paid to Woodside Capital in connection with any transaction introduced by Woodside Capital, to be determined in accordance with the Agreement.
“We are impressed with Inspire Semiconductor’s accelerated computing solution for the High-Performance Computing (HPC) & Graph Analytics market. Its use of RISC-V-based cores and advanced interconnect addresses the market’s demanding power, throughput, and cost requirements,” said George Jones, Managing Director of Woodside Capital Partners.
“As we continue to execute on our strategy, advancing our technology and market presence, we considered various firms for advisory services as we ramp our business. We were very impressed with the caliber of the team at Woodside Capital and their understanding of the industry, our market position and technology ecosystem. We look forward to working with them on important next steps for InspireSemi,” said John B. Kennedy, Chief Financial Officer of InspireSemi.
Woodside Capital currently does not own directly any securities of the Company.
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.
About Woodside Capital Partners
Woodside Capital Partners is one of the leading corporate finance advisory firms for tech companies in M&A and financings in the $30M –$500M segment. The firm has worked with some of the best entrepreneurs and investors since 2001, providing ultra-personalized service to select clients.
Investor Relations Contact
Phil Carlson/Scott Eckstein
KCSA Strategic Communication
John B. Kennedy, CFO
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.
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