TSXV, schmee-SXV Inspire Semiconductor going private until it generates revenues and then will list on Nasdaq.
Prior to receiving the Loan, the Company had explored multiple and diverse avenues over many months to raise the funding required to bring its Thunderbird 1 product into commercial production. The Company was ultimately unsuccessful in raising the funds through traditional Canadian public market routes.
The Company repeatedly received the message from other private investors with the potential to provide such funding that they were unable or unwilling to provide it due to the Company’s current status as a TSXV listed issuer.
The Company also examined an accelerated paths to an uplist to a major U.S. Exchange, however it became clear that due to the Company’s pre revenue stage and current market capitalization now was not the right time to pursue this and that such a path would likely cause significant dilution to shareholders and extensive third party costs.