Acutus Medical Announces Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)

Rhea-AI Summary

Acutus Medical, Inc. granted equity awards to 5 individuals hired in October 2023. The employees received a total of 28,500 restricted stock units (RSUs), with vesting occurring yearly on each anniversary of the grant date. The RSUs will be fully vested on the fourth anniversary of the grant date, contingent on continued employment with Acutus.

CARLSBAD, Calif., Nov. 02, 2023 (GLOBE NEWSWIRE) -- Acutus Medical, Inc. (“Acutus” or the “Company”) (Nasdaq: AFIB), an arrhythmia management company focused on improving the way cardiac arrhythmias are diagnosed and treated, granted equity awards on November 1, 2023 that were approved by the Compensation Committee of its Board of Directors under Company’s 2022 Inducement Equity Incentive Plan, as a material inducement to employment to 5 individuals hired by Acutus in October 2023. The equity awards were approved in accordance with Nasdaq Listing Rule 5635(c)(4).

The employees received, in the aggregate, 28,500 restricted stock units (“RSUs”). One-fourth of the RSUs granted to each employee will vest yearly on each anniversary of the grant date, such that the RSUs granted to each employee will be fully vested on the fourth anniversary of the grant date, in each case, subject to each such employee’s continued employment with Acutus on such vesting date.

About Acutus Medical, Inc.
Acutus is an arrhythmia management company focused on improving the way cardiac arrhythmias are diagnosed and treated. Acutus is committed to advancing the field of electrophysiology with a unique array of products and technologies which will enable more physicians to treat more patients more efficiently and effectively. Through internal product development, acquisitions and global partnerships, Acutus has established a global sales presence delivering a broad portfolio of highly differentiated electrophysiology products that provide its customers with a complete solution for catheter-based treatment of cardiac arrhythmias. Founded in 2011, Acutus is based in Carlsbad, California.

Caution Regarding Forward-Looking Statements
This press release includes statements that may constitute “forward-looking” statements, usually containing the words “will,” “believe,” “estimate,” “project,” “expect” or similar expressions. Forward-looking statements inherently involve risks and uncertainties that could cause actual results to differ materially from the forward-looking statements. Factors that would cause or contribute to such differences include, but are not limited to, the Company’s ability to continue to manage expenses and cash burn rate at sustainable levels, continued acceptance of its products in the marketplace, the effect of global economic conditions on the ability and willingness of customers to purchase the Company’s systems and the timing of such purchases, competitive factors, changes resulting from healthcare policy in the United States and globally, including changes in government reimbursement of procedures, dependence upon third-party vendors and distributors, timing of regulatory approvals, the impact of the coronavirus (COVID-19) pandemic and Acutus’ response to it, and other risks discussed in the Company’s periodic and other filings with the Securities and Exchange Commission. By making these forward-looking statements, Acutus undertakes no obligation to update these statements for revisions or changes after the date of this release, except as required by law.

Investor Contact:
Chad Hollister
Acutus Medical, Inc.
D: 442-232-6080
investors@acutus.com

FAQ

What is the name of the company mentioned in the press release?

The company mentioned in the press release is Acutus Medical, Inc.

What type of company is Acutus Medical, Inc.?

Acutus Medical, Inc. is an arrhythmia management company focused on improving the way cardiac arrhythmias are diagnosed and treated.

What equity awards were granted by Acutus Medical, Inc.?

Acutus Medical, Inc. granted 28,500 restricted stock units (RSUs) to 5 individuals hired in October 2023.

How will the RSUs vest for the employees?

One-fourth of the RSUs granted to each employee will vest yearly on each anniversary of the grant date. The RSUs will be fully vested on the fourth anniversary of the grant date.

What is the condition for vesting the RSUs?

The RSUs will be fully vested on the fourth anniversary of the grant date, subject to each employee's continued employment with Acutus on that date.