Helius Medical Technologies, Inc. Reports Inducement Grants Under Nasdaq Listing Rule 5635(C)(4)
October 29 2021 - 4:30PM
Helius Medical Technologies, Inc. (Nasdaq: HSDT) (“Helius” or the
“Company”), a neurotech company focused on neurological wellness,
today announced that, effective October 28, 2021, its
compensation committee approved equity awards under Helius’ 2021
Inducement Plan, as a material inducement to six 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 Helius, the six individuals, who were not previous
employees or directors of Helius, received options to purchase
an aggregate of 22,000 shares of the Company’s Class A common
stock. The option awards have an exercise price
of $14.20 per share, the closing price of Helius’ common
stock on October 28, 2021, the date of the grant. The options
have a ten-year term and vest over a period of four years, with 25%
vesting on each of the first, second, third and fourth anniversary
of each individual’s hire date, 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 Helius Medical Technologies,
Inc.
Helius Medical Technologies is a leading
neurotech company in the medical device field focused on neurologic
deficits using non-implantable platform technologies that amplify
the brain’s ability to compensate and promote neuroplasticity,
aiming to improve the lives of people dealing with neurologic
diseases.
The Company’s first commercial product is the
Portable Neuromodulation Stimulator (PoNS®). For more information,
visit www.heliusmedical.com.
About the
PoNS® Device and PoNS
Therapy
The Portable Neuromodulation Stimulator (PoNS®)
is an innovative non-surgical device, inclusive of a controller and
mouthpiece, which delivers electrical stimulation to the surface of
the tongue to provide treatment of gait deficit. The PoNS® device
is indicated for use in the United States as a short-term treatment
of gait deficit due to mild-to-moderate symptoms from multiple
sclerosis (“MS”) and is to be used as an adjunct to a supervised
therapeutic exercise program in patients 22 years of age and over
by prescription only. It is authorized for sale in Canada as a
class II, non-implantable, medical device intended as a short-term
treatment (14 weeks) of gait deficit due to mild and moderate
symptoms from MS, and chronic balance deficit due to
mild-to-moderate traumatic brain injury (“mmTBI”) and is to be used
in conjunction with physical therapy. The PoNS® is an
investigational medical device in Australia (“AUS”) and is
currently under premarket review by the AUS Therapeutic Goods
Administration.
Investor Relations Contact:
Lisa M. Wilson, In-Site Communications, Inc.
T: 212-452-2793
E: lwilson@insitecony.com
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