Nuwellis, Inc. Reports Inducement Grants Under NASDAQ Listing Rule 5635(c)(4)
August 19 2022 - 2:00PM
Nuwellis, Inc. (NASDAQ: NUWE), today announced that, effective
August 18, 2022, the independent directors approved equity awards
under Nuwellis’ 2021 Inducement Plan, as material inducements 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 Nuwellis, Inc.,
the individuals, who were not previously employees or directors of
Nuwellis, received options to purchase an aggregate of 22,334
shares of the company’s common stock. The option awards have an
exercise price of $0.66 per share, the closing price of Nuwellis’
common stock on August 18, 2022, the date of the 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, and
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 device company
dedicated to transforming 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 headquartered in Minneapolis, Minn., with a
wholly-owned subsidiary in Ireland.
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:
George Montague
Chief Financial Officer Nuwellis, Inc.
IR@Nuwellis.com
Matt Basco
CFA Gilmartin Group LLC
Matt.basco@gilmartinir.com
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