Helius Medical Technologies, Inc. Reports Inducement Grant Under Nasdaq Listing Rule 5635(c)(4)
August 11 2021 - 4:00PM
Helius Medical Technologies, Inc. (Nasdaq: HSDT) (TSX: HSM)
(“Helius” or the “Company”), a neurotech company focused on
neurological wellness, today announced that, effective August
10, 2021, its independent directors approved an equity award under
Helius’ 2021 Inducement Plan, as a material inducement to an
individual entering into employment with the Company. The equity
award was 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 individual, who was not a previously employee
or director of Helius, received an option to purchase 2,000
shares of the Company’s Class A common stock. The option award has
an exercise price of $15.39 per share, the closing price
of Helius’ common stock on August 10, 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 August 2, 2021, 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 neurotech
company focused on neurological wellness. The Company’s purpose is
to develop, license and acquire unique and non-invasive platform
technologies that amplify the brain’s ability to heal itself. 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 Treatment™
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. PoNS is an investigational
medical device in the European Union (“EU”) and Australia (“AUS”).
It is currently under premarket review by the AUS Therapeutic Goods
Administration.
Investor Relations Contact:
Westwicke on behalf of Helius Medical Technologies, Inc.Jack
Powell, Vice Presidentinvestorrelations@heliusmedical.com
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