Nuwellis, Inc. Reports Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)
November 14 2023 - 4:30PM
Nuwellis, Inc. (Nasdaq: NUWE) today announced that, effective
November 14, 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 1,943 shares
of the Company’s common stock. All of the options have an exercise
price of $0.60 per share, the closing price of Nuwellis’ common
stock on November 14, 2023, the effective date of those grants. 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 Nuwellis
Nuwellis, 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 System
The 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 Cervantes
Gilmartin Group
ir@nuwellis.com
Source: Nuwellis, Inc.
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