Nuwellis, Inc. Reports Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)
March 01 2023 - 7:00AM
Nuwellis, Inc. (Nasdaq: NUWE), today announced that, effective
February 23, 2023, the Company’s 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 2,514 shares of the Company’s common stock. The option awards
have an exercise price of $8.27 per share, the closing price of
Nuwellis’ common stock on February 23, 2023, 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 NuwellisNuwellis, Inc.
(Nasdaq: NUWE) is a medical technology company dedicated to
transforming the lives of patients suffering from fluid overload
through science, collaboration, and innovation. The Company is
focused on commercializing the Aquadex SmartFlow® system for
ultrafiltration therapy. Nuwellis is headquartered in Minneapolis,
with a wholly owned subsidiary in Ireland. For more information,
visit www.nuwellis.com or visit us on
LinkedIn.
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:
Vivian CervantesGilmartin Group LLCir@nuwellis.com
MEDIA:
Annika ParishHealth+Commerceannika@healthcandcommerce.com
Newellis (NASDAQ:NUWE)
Historical Stock Chart
From Jun 2024 to Jul 2024
Newellis (NASDAQ:NUWE)
Historical Stock Chart
From Jul 2023 to Jul 2024