Rockwell Medical Announces Inducement Grant Under Nasdaq Listing Rule 5635(c)(4)
November 12 2021 - 4:05PM
Rockwell Medical, Inc. (Nasdaq: RMTI), a biopharmaceutical company
dedicated to transforming the treatment of iron deficiency and
anemia management and improving outcomes for patients around the
world, today announced that a majority of the independent directors
serving on the Company’s Board of Directors approved option grants
to two new employees to purchase an aggregate of 75,000 shares of
the Company’s common stock (the “Inducement Grants”). The
Inducement Grants have been granted outside of the Company’s 2018
Long Term Incentive Plan (“Plan”) but remain subject to the terms
and conditions of such Plan. The Inducement Grants were made as an
inducement material to such individuals entering into employment
with Rockwell Medical in accordance with Nasdaq Listing Rule
5635(c)(4). The Inducement Grants have an exercise price of $0.53,
which is equal to the closing price of Rockwell Medical’s common
stock on November 10, 2021, the grant date of the award. The
Inducement Grants will vest over a 3-year period, with one-third of
the shares vesting on each of the first three anniversaries of the
grant date, subject to continued employment through the applicable
vesting dates.
About Rockwell Medical
Rockwell Medical is a commercial-stage biopharmaceutical
company developing and commercializing its next-generation
parenteral iron technology platform, Ferric Pyrophosphate Citrate
(FPC), which has the potential to lead transformative treatments
for iron deficiency in multiple disease states, reduce healthcare
costs and improve patients’ lives. The Company has two FDA-approved
therapies indicated for patients undergoing hemodialysis, which are
the first two products developed from the FPC platform. The Company
is developing FPC for the treatment of iron deficiency in patients
outside of dialysis, who are receiving intravenous medications in
the home infusion setting, a large and rapidly growing segment of
healthcare, and where these patients suffer from chronic diseases
associated with high incidence of iron deficiency and anemia. In
addition, Rockwell Medical is one of two major suppliers
of life-saving hemodialysis concentrate products to kidney dialysis
clinics in the United States. For more information,
visit www.RockwellMed.com.
ROCKWELL MEDICAL CONTACTS
Investors:Argot
Partners212.600.1902Rockwell@argotpartners.com
Media:David RosenArgot
Partners212.600.1902david.rosen@argotpartners.com
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