INSPIRE SETS OFFERING, MEETING DATES

INSpire Insurance Solutions Inc. announced the record and meeting dates for the special meeting of shareholders to vote on its previously announced reverse stock split and rights offering. The Fort Worth-based company also announced the record date for the distribution of rights in the rights offering, the expiration date of those rights and the terms of the rights offering. The record date for determining the shareholders eligible to vote at the special meeting of shareholders in connection with the approval of the reverse stock split and the rights offering is Dec. 3. The meeting will be held Jan. 9, 2002. Dec. 3 is also the record date for determining the shareholders eligible to receive rights to purchase additional shares of common stock in the rights offering. INSpire will distribute rights to purchase .66 shares of common stock for each share held on the record date. Fractional rights will not be distributed, but the company will round the number of rights each shareholder receives up to the next largest whole number. Each whole right will entitle the holder to purchase one share of common stock for $0.40. INSpire is also asking for shareholder approval of a ten-for-one reverse stock split in order to increase the market price per share of the company’s common stock above the $1.00 minimum bid level required to maintain listing on the Nasdaq National Market System. If the stock split is not approved by the shareholders, and if the stock price does not maintain a minimum 10 day bid price above $1.00 as required by the Nasdaq, INSpire could face delisting action by the Nasdaq.