Assertio Holdings, Inc. Reports Inducement Grants Under NASDAQ Listing Rule 5635(c)(4)
06 January 2024 - 10:56AM
Assertio Holdings, Inc. (“Assertio” or the “Company”) (NASDAQ:
ASRT), a specialty pharmaceutical company that acquires,
commercializes and develops safe and effective therapies that make
a difference in the lives of patients, announced that effective
January 2, 2024, the Compensation Committee of the Company’s Board
of Directors granted two newly-hired employee a total of 16,498
restricted stock units (“RSUs”) and 18,654 stock options
(“options”).
The RSUs and options were granted as inducements
material to each such individual’s entry into employment with
Assertio in accordance with NASDAQ Listing Rule 5635(c)(4). The
RSUs and options are subject to such employees’ continued service
relationship with the Company, terms and conditions substantially
identical to those set forth in the Company's 2014 Omnibus
Incentive Plan and the award agreements pursuant to which they were
granted. The options have an exercise price of $1.14 per share,
which is equal to the closing price of Assertio’s common stock on
the grant date. The RSUs and options vest equally annually over
three years beginning on the first anniversary of the grant
date.
About AssertioAssertio is a specialty
pharmaceutical company that acquires, commercializes and develops
safe and effective therapies that make a difference in the lives of
patients. Utilizing a proprietary digital-focused commercialization
approach we can promote products across multiple therapeutic
categories. We strive to lead by example, embrace change, and make
a positive impact in our community while creating better
experiences for our employees, partners and shareholders. To learn
more about Assertio visit www.assertiotx.com.
Forward Looking Statements
Statements in this communication that are not
historical facts are forward-looking statements that reflect
Assertio's current expectations, assumptions and estimates of
future performance and economic conditions. These forward-looking
statements are made in reliance on the safe harbor provisions of
Section 27A of the Securities Act of 1933, as amended, and Section
21E of the Securities Exchange Act of 1934, as amended. These
forward-looking statements relate to, among other things, future
events or the future performance or operations of Assertio,
including our ability to realize the benefits from our operating
model, successfully integrate new assets and explore new business
development initiatives. All statements other than historical facts
may be forward-looking statements and can be identified by words
such as "anticipate," "believe," "could," "design," "estimate,"
"expect," "forecast," "goal," "guidance," "imply," "intend," "may",
"objective," "opportunity," "outlook," "plan," "position,"
"potential," "predict," "project," "prospective," "pursue," "seek,"
"should," "strategy," "target," "would," "will," "aim" or other
similar expressions that convey the uncertainty of future events or
outcomes and are used to identify forward-looking statements. Such
forward-looking statements are not guarantees of future performance
and are subject to risks, uncertainties and other factors, some of
which are beyond the control of Assertio, including the risks
described in Assertio's Annual Report on Form 10-K and Quarterly
Reports on Form 10-Q filed with the U.S. Securities and Exchange
Commission ("SEC") and in other filings Assertio makes with the SEC
from time to time.
Investors and potential investors are urged not
to place undue reliance on forward-looking statements in this
communication, which speak only as of this date. While Assertio may
elect to update these forward-looking statements at some point in
the future, it specifically disclaims any obligation to update or
revise any forward-looking-statements contained in this press
release whether as a result of new information or future events,
except as may be required by applicable law. Nothing contained
herein constitutes or will be deemed to constitute a forecast,
projection or estimate of the future financial performance or
expected results of Assertio.
Investor Contact:
Matt KrepsManaging DirectorDarrow AssociatesAustin, TX M:
214-597-8200mkreps@darrowir.com
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