Nuwellis, Inc. Reports Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)
May 22 2023 - 5:10PM
Nuwellis, Inc. (Nasdaq: NUWE) today announced that, effective May
19, 2023, the Company’s independent directors approved equity
awards under Nuwellis’ 2021 Inducement Plan, as material
inducements to five 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
Nuwellis, Inc., the individuals, who were not previously employees
or directors of Nuwellis, received options to purchase an aggregate
of 1,103 shares of the Company’s common stock. 720 of the options
have an exercise price of $3.02 per share, the closing price of
Nuwellis’ common stock on May 19, 2023, the effective date of those
grants. 383 of the options have an exercise price of $2.87 per
share, the closing price of Nuwellis’ common stock on May 22, 2023,
the effective date of that grant. The options have a ten-year term
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, subject to acceleration
or forfeiture upon the occurrence of certain events as set forth in
the new hire’s option agreement.
About NuwellisNuwellis, Inc.
(Nasdaq: NUWE) is a medical technology company dedicated to
transforming the lives of patients suffering from fluid overload
through science, collaboration, and innovation. The Company is
focused on commercializing the Aquadex SmartFlow® system for
ultrafiltration therapy. Nuwellis is headquartered in Minneapolis,
with a wholly owned subsidiary in Ireland. For more information,
visit www.nuwellis.com or visit us on LinkedIn and
Twitter.
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: Vivian
CervantesGilmartin Group ir@nuwellis.com
Newellis (NASDAQ:NUWE)
Historical Stock Chart
From Aug 2024 to Sep 2024
Newellis (NASDAQ:NUWE)
Historical Stock Chart
From Sep 2023 to Sep 2024