Nuwellis, Inc. Reports Inducement Grants Under NASDAQ Listing Rule 5635(c)(4)
June 24 2021 - 7:00AM
Nuwellis, Inc. (NASDAQ: NUWE), today announced that, effective June
22, 2021, the independent directors approved four equity awards
under Nuwellis’ 2021 Inducement Plan, as material inducement to
four 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 46,737 shares of the Company’s common stock. The option awards
have an exercise price of $3.98 per share, the closing price of
Nuwellis’ common stock on June 22, 2021, the date of the 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, and
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 device company dedicated to changing the
lives of patients suffering from fluid overload through science,
collaboration, and innovation. The company is focused on
developing, manufacturing, and commercializing the Aquadex
SmartFlow® system for ultrafiltration therapy. Nuwellis is a
Delaware corporation headquartered in Minneapolis, Minnesota with a
wholly owned subsidiary in Ireland. The company has been listed on
the Nasdaq Capital Market since February 2012.
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:
Matt Basco, CFA
Gilmartin Group LLC
Matt.basco@gilmartinir.com
MEDIA:
Jessica Stebing
Health+Commerce
260-336-6202
jstebing@healthandcommerce.com
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