MaxCyte Announces Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)
MaxCyte, a leading cell-engineering company, announced on April 11, 2022, that it granted stock options for a total of 554,000 shares to newly hired employees, including 500,000 shares to Cenk Sumen, the new Chief Scientific Officer. The options, issued under the 2021 Inducement Plan, have a ten-year term with an exercise price of $5.67 per share, matching the stock's closing price on the grant date. Vested shares will occur over four years, contingent upon continued employment.
- Granting of 554,000 stock options provides an incentive for new talent, including a key hire in the Chief Scientific Officer position.
- Stock options are aligned with the company's growth strategy in cell-based therapies, potentially enhancing innovation.
- Stock options may dilute existing shareholder value if exercised in large quantities.
- The significant grant to the Chief Scientific Officer could indicate a need to attract high-level talent in a competitive industry.
GAITHERSBURG, Md., April 15, 2022 (GLOBE NEWSWIRE) -- MaxCyte, Inc., (NASDAQ: MXCT; LSE: MXCT, MXCN), a leading commercial cell-engineering company focused on providing enabling platform technologies to advance innovative cell-based research as well as next-generation cell therapeutic discovery, development and commercialization, today announced that, on April 11, 2022, the Compensation Committee of MaxCyte’s Board of Directors granted stock options to purchase (i) an aggregate of 54,000 shares of MaxCyte’s common stock to four (4) newly hired employees and (ii) 500,000 shares of MaxCyte’s common stock to Cenk Sumen, MaxCyte’s newly hired Chief Scientific Officer. Each of the foregoing stock options were granted as material inducements to employment with MaxCyte in accordance with Nasdaq Listing Rule 5635(c)(4) and were granted under the MaxCyte, Inc. 2021 Inducement Plan (the “2021 Inducement Plan”).
The stock options have a ten-year term and an exercise price of
About MaxCyte
MaxCyte is a leading commercial cell-engineering company focused on providing enabling platform technologies to advance innovative cell-based research as well as next-generation cell therapeutic discovery, development and commercialization. Over the past 20 years, we have developed and commercialized our proprietary Flow Electroporation® platform, which facilitates complex engineering of a wide variety of cells. Our ExPERT™ platform, which is based on our Flow Electroporation technology, has been designed to support the rapidly expanding cell therapy market and can be utilized across the continuum of the high-growth cell therapy sector, from discovery and development through commercialization of next-generation, cell-based medicines. The ExPERT family of products includes: four instruments, the ATx™, STx™ GTx™and VLx™; a portfolio of proprietary related processing assemblies or disposables; and software protocols, all supported by a robust worldwide intellectual property portfolio.
MaxCyte Contacts:
| US IR Adviser Gilmartin Group David Deuchler, CFA | +1 415-937-5400 ir@maxcyte.com |
| Nominated Adviser and Joint Corporate Broker Panmure Gordon Emma Earl / Freddy Crossley Corporate Broking Rupert Dearden | +44 (0)20 7886 2500 |
| UK IR Adviser Consilium Strategic Communications Mary-Jane Elliott Chris Welsh | +44 (0)203 709 5700 maxcyte@consilium-comms.com |
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