CHF Solutions, Inc. Reports Inducement Grants Under NASDAQ Listing Rule 5635(c)(4)
November 23 2020 - 5:41PM
CHF Solutions, Inc. (NASDAQ: CHFS), today announced that, effective
November 16, 2020, the independent directors approved three equity
awards under CHF Solution’s New-Hire Equity Incentive Plan, as
material inducements to three 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 three individuals, who were not previously employees or
directors of CHF Solutions, received options to purchase an
aggregate of 1,200 shares of the Company’s common stock. The option
awards have an exercise price of $6.06 per share, the closing price
of CHF Solution’s common stock on November 16, 2020, 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 SolutionsCHF Solutions, Inc.
(Nasdaq:CHFS) is a medical device company dedicated to changing the
lives of patients suffering from fluid overload through science,
collaboration, and innovation. The company is focused on
developing, manufacturing, and commercializing the Aquadex
SmartFlow™ system for ultrafiltration therapy. 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.
About the Aquadex
SmartFlow SystemThe Aquadex SmartFlow system delivers
clinically proven therapy using a simple, flexible and smart method
of removing excess fluid from patients suffering from hypervolemia
(fluid overload). The Aquadex SmartFlow system is indicated for
temporary (up to 8 hours) or extended (longer than 8 hours in
patients who require hospitalization) use in adult and pediatric
patients weighing 20 kg or more whose fluid overload is
unresponsive to medical management, including diuretics. All
treatments must be administered by a health care provider, within
an outpatient or inpatient clinical setting, under physician
prescription, both having received training in extracorporeal
therapies.
CONTACTS
INVESTORS:
Claudia Napal Drayton
Chief Financial Officer, CHF Solutions, Inc.
952-345-4205
ir@chf-solutions.com
Matt Basco, CFA
Gilmartin Group LLC
Matt.basco@gilmartinir.com
MEDIA:
Jessica Stebing
Health+Commerce
260-336-6202
jstebing@healthandcommerce.com
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