MaxCyte Announces Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)
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 $5.670per share, which is equal to the closing price of MaxCyte’s common stock on April 11, 2022. Each option will vest over a four-year period, with 25% of the shares vesting after 12 months and the remaining shares vesting monthly over the following 36 months, subject to the employee’s continued employment with MaxCyte on such vesting dates. The options are subject to the terms and conditions of the 2021 Inducement Plan and the terms and conditions of an award agreement covering the grants.
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.
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