Nuwellis, Inc. Reports Inducement Grants Under NASDAQ Listing Rule 5635(c)(4)
Nuwellis, Inc. (NASDAQ: NUWE) announced on May 19, 2021, that its independent directors approved eight equity awards as an inducement for new employment, aligning with NASDAQ Listing Rule 5635(c)(4). The awards consist of options to purchase 6,227 shares at an exercise price of $3.63, which equals the stock's closing price on the grant date. These options will vest over four years and have a ten-year term. Nuwellis is focused on innovating medical devices for fluid overload treatment through its Aquadex SmartFlow system.
- Equity awards align with NASDAQ requirements, enhancing recruitment efforts.
- The exercise price of $3.63 matches the stock's closing price, indicating stability.
- Long vesting period of four years promotes employee retention.
- None.
EDEN PRAIRIE, Minn., May 20, 2021 (GLOBE NEWSWIRE) -- Nuwellis, Inc. (NASDAQ: NUWE), today announced that, effective May 19, 2021, the independent directors approved eight equity awards under Nuwellis’ 2021 Inducement Plan, as material inducement to an individual 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 6,227 shares of the Company’s common stock. The option awards have an exercise price of
About Nuwellis
Nuwellis, Inc. (Nasdaq:NUWE) is a medical device company dedicated to changing 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 a Delaware corporation headquartered in Minneapolis, Minnesota with a wholly owned subsidiary in Ireland. The company has been listed on the Nasdaq Capital Market since February 2012.
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:
Matt Basco, CFA
Gilmartin Group LLC
Matt.basco@gilmartinir.com
MEDIA:
Jessica Stebing
Health+Commerce
260-336-6202
jstebing@healthandcommerce.com
FAQ
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