Acutus Medical Announces Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)
On July 1, 2022, Acutus Medical (Nasdaq: AFIB) granted a total of 6,000 restricted stock units (RSUs) to two new employees as part of its 2022 Inducement Equity Incentive Plan. This award is intended to incentivize their employment and will vest yearly over four years, contingent upon continued employment. Acutus, based in Carlsbad, California, specializes in arrhythmia management, aiming to enhance diagnosis and treatment of cardiac arrhythmias with a comprehensive array of electrophysiology products and technologies.
- Granting of 6,000 RSUs as a strategic incentive for new employees may enhance employee retention.
- Acutus's focus on improving cardiac arrhythmia treatment aligns with growing market needs.
- Dependence on continued employee retention for RSU vesting could impact staffing stability.
- Market acceptance of products remains uncertain and subject to competitive pressures.
CARLSBAD, Calif., July 01, 2022 (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 July 1, 2022 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 2 individuals hired by Acutus in June 2022. The equity awards were approved in accordance with Nasdaq Listing Rule 5635(c)(4).
The employees received, in the aggregate, 6,000 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: | Media Contact: |
| Caroline Corner | Levitate |
| Westwicke ICR | (260) 408-5383 |
| D: 415-202-5678 | acutus@levitatenow.com |
| caroline.corner@westwicke.com | |
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