CHF Solutions, Inc. Reports Inducement Grants Under NASDAQ Listing Rule 5635(c)(4)
September 06 2019 - 4:15PM
CHF Solutions, Inc. (NASDAQ: CHFS), today announced that, on
September 3, 2019, the independent directors approved four equity
awards under CHF Solution’s New-Hire Equity Incentive Plan, as
material inducements to four individuals entering into employment
with the Company. The equity awards were approved in
accordance with NASDAQ Listing Rule 5635(c)(4), which also requires
a public announcement of equity awards that are not made under a
stockholder approved equity plan.
In connection with entering into employment with CHF Solutions,
the four individuals, who were not previously employees or
directors of CHF Solutions, received options to purchase an
aggregate of 14,000 shares of the Company’s common stock. The
option awards have an exercise price of $2.46 per share, the
closing price of CHF Solution’s common stock on September 3, 2019,
the date of the grant. The options have ten-year terms and
vest over a period of four years, with 25% vesting one year after
the date of grant and the remaining 75% vesting in 36 approximately
equal monthly increments, provided the new hire’s employment is
continuing on each such date, and subject to acceleration or
forfeiture upon the occurrence of certain events as set forth in
the new hire’s option agreement.
About CHF Solutions
CHF Solutions, Inc. (NASDAQ:CHFS) is a medical device
company focused on developing, manufacturing and commercializing
the Aquadex FlexFlow® system for aquapheresis therapy. The Aquadex
FlexFlow system is a clinically proven therapy that provides a
safe, effective and predictable method of removing excess sodium
and fluid from patients suffering from fluid overload. The Aquadex
FlexFlow system is indicated for temporary (up to eight hours)
ultrafiltration treatment of patients with fluid overload who have
failed diuretic therapy and extended (longer than 8 hours)
ultrafiltration treatment of patients with fluid overload who have
failed diuretic therapy and require hospitalization. All treatments
must be administered by a healthcare provider, under physician
prescription, both of whom having received training in
extracorporeal therapies. The company's vision is to improve the
lives of fluid overloaded patients through science, collaboration,
and innovative medical technology. CHF Solutions is
a Delaware corporation headquartered in Minneapolis,
Minnesota with wholly owned subsidiaries
in Australia and Ireland. The company has been
listed on the Nasdaq Capital Market since February
2012.
CONTACTS:
INVESTORS: Claudia Napal Drayton Chief
Financial Officer CHF Solutions, Inc. 952-345-4205
ir@chf-solutions.com-or- Bret Shapiro Managing Partner CORE IR
516-222-2560 brets@coreir.com www.coreir.comMEDIA
Jules Abraham JQA Partners, Inc. 917-885-7378
jabraham@jqapartners.com
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