Alimera Sciences Names Elliot Maltz as Chief Financial Officer and Reports Inducement Grant Under Nasdaq Listing Rule 5635(c)(4)
January 02 2024 - 8:00AM
Alimera Sciences, Inc. (Nasdaq: ALIM) (“Alimera” or the “Company”),
a global pharmaceutical company whose mission is to be invaluable
to patients, physicians, and partners concerned with retinal
health, and maintaining better vision longer, today announced that
Elliot Maltz, C.P.A., has been named Chief Financial Officer
effective immediately.
“Elliot joins the Alimera leadership team at an exciting time as
we enter 2024 preparing to enhance our growth trajectory and drive
improved cash flow,” said Rick Eiswirth, Alimera’s President and
CEO. “Elliot’s experience as a CFO in public international
commercial-stage companies and his strategic, value-oriented
mindset instills great confidence that he will drive value
creation, strengthen our balance sheet, and ensure the realization
of our long-term vision. We look forward to the impactful
contributions he will undoubtedly make to our team.”
Mr. Maltz began his career as an audit manager for Deloitte
& Touche LLP before joining Sapient Corp., a publicly traded
global agency providing strategic business and advertising
consulting services where he was the Technical Accounting and SEC
Reporting Manager. Most recently he was the Chief Financial Officer
with Orgenesis, Inc., a publicly traded global biotech company
transforming the processing of cell and gene therapies. Prior to
this he was with Gelesis Holdings, Inc., a publicly traded
multi-national commercial stage company focused on advancing
first-in-class therapeutics to treat excess weight and other
gastric conditions. At Gelesis, Mr. Maltz advanced from Corporate
Controller to Vice President of Finance and then to Chief Financial
Officer while leading numerous operational and fundraising
initiatives. He received his B.S. in business administration -
finance from Elon University and is a licensed C.P.A. in the state
of Massachusetts.
“I am joining a dynamic leadership team at Alimera when the
company is positioned for strong growth across both its U.S. and
International segments. As well as getting integrated with the
day-to-day financial operations, I’m excited to provide strategic
financial leadership as the company works to become the place to be
in retina,” said Mr. Maltz. “I believe my experience in
fast-growing, commercial-stage public companies will be valuable in
supporting Alimera’s vision.”
Mr. Maltz will be taking on the role from Russell Skibsted. Mr.
Skibsted’s departure is not the result of any disagreement with
management concerning the Company’s operations or management.
The Company also announced today that on January 2, 2024, in
connection with Mr. Maltz’s joining as Chief Financial Officer, the
Compensation Committee of the Board of Directors of the Company
approved an inducement option to purchase up to 75,000 shares of
common stock (the “Inducement Option”) to Mr. Maltz. The Inducement
Option has an exercise price of $4.32 per share, which is equal to
the fair market value per share of the Company’s common stock on
the Nasdaq Global Market on December 29, 2023, and will vest over
four years, subject to Mr. Maltz’s continued service with the
Company on each applicable vesting date, with 25% of the underlying
shares vesting on the one-year anniversary of the vesting
commencement date, and the remaining 75% of the underlying shares
vesting in equal monthly installments over the thirty-six months
thereafter. The Inducement Option is an inducement material to Mr.
Maltz entering into employment with the Company in accordance with
Nasdaq Listing Rule 5635(c)(4).
About Alimera Sciences, Inc.
Alimera Sciences is a global pharmaceutical company whose
mission is to be invaluable to patients, physicians and partners
concerned with retinal health and maintaining better vision longer.
For more information, please visit www.alimerasciences.com.
For investor inquiries: |
For media inquiries: |
Scott
Gordon |
Jules
Abraham |
for Alimera Sciences |
for Alimera Sciences |
scottg@coreir.com |
julesa@coreir.com |
|
|
Forward Looking Statements
This press release includes “forward-looking statements” within
the meaning of the Private Securities Litigation Reform Act of 1995
regarding, among other things, Alimera’s expectations with respect
to Mr. Maltz’s anticipated contribution to the Company or with
respect to the Company’s expectations with respect to business
results and strategy, future operations, and projected growth.
Words such as “anticipate,” “believe,” “estimate,” “expect,”
“intend,” “may,” “plan,” “contemplates,” “predict,” “project,”
“target,” “likely,” “potential,” “continue,” “ongoing,” “will,”
“would,” “should,” “could,” or the negative of these terms and
similar expressions or words, identify forward-looking statements.
Forward-looking statements are based on current expectations and
involve inherent risks and uncertainties (some of which are beyond
Alimera’s control), including factors that could delay, divert, or
change any of them, and could cause actual results to differ
materially from those projected in these forward-looking
statements. These risks and uncertainties include, but are not
limited to, those factors discussed in the “Risk Factors” and
“Management’s Discussion and Analysis of Financial Condition and
Results of Operations” sections of Alimera’s most recently filed
Annual Report on Form 10-K, most recently filed Quarterly Report on
Form 10-Q, and any of Alimera’s subsequent filings with the
Securities and Exchange Commission (SEC) and available on the SEC’s
website at www.sec.gov.
All forward-looking statements contained in this press release
are expressly qualified by the cautionary statements contained or
referred to herein. Alimera cautions investors not to rely on the
forward-looking statements Alimera makes or that are made on its
behalf as predictions of future events. These forward-looking
statements speak only as of the date of this press release. Alimera
undertakes no obligation to publicly update or revise any of the
forward-looking statements made in this press release, whether as a
result of new information, future events or otherwise, except as
may be required under applicable securities laws.
A photo accompanying this announcement is available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/502eb03d-f608-4ec7-855b-98602317c67c
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