Organovo Holdings, Inc. Reports Inducement Grant Under Nasdaq Listing Rule 5635(c)(4)
19 February 2022 - 8:00AM
Organovo Holdings, Inc. (Nasdaq: ONVO) (“Organovo”), today
announced that it has granted a stock option to purchase 50,000
shares of common stock to one new employee. The stock option was
granted pursuant to the Organovo Holdings, Inc. 2021 Inducement
Equity Incentive Plan and granted as an inducement material to the
new employee entering into employment with Organovo in accordance
with Nasdaq Listing Rule 5635(c)(4).
The stock option has an exercise price of $2.75 per share, the
closing price per share of Organovo’s common stock, as reported by
Nasdaq, on February 14, 2022, the date of grant. The stock option
has a ten year term and vests over four years, with 25% of the
shares underlying the option vesting one year from the grant date
and the remaining shares underlying the option vest on a quarterly
basis over the next 12 quarters (for a total vesting period of 48
months), in each case provided that the new employee remains
continuously employed by Organovo through the applicable vesting
date, inclusive.
Organovo is providing this information in accordance with Nasdaq
Listing Rule 5635(c)(4).
About Organovo Holdings, Inc.
Organovo is an early-stage biotechnology company that is
developing and utilizing highly customized 3D human tissues as
dynamic models of healthy and diseased human biology for drug
development. The company’s proprietary technology is being used to
build functional 3D human tissues that mimic key aspects of native
human tissue composition, architecture, function and disease.
Organovo’s advances include cell type-specific compartments,
prevalent intercellular tight junctions, and the formation of
microvascular structures. Management believes these attributes can
enable critical complex, multicellular disease models that can be
used to develop clinically effective drugs for selected therapeutic
areas.
Forward-Looking Statements
Any statements contained in this press release
that do not describe historical facts constitute forward-looking
statements as that term is defined in the Private Securities
Litigation Reform Act of 1995. Any forward-looking statements
contained herein are based on current expectations, but are subject
to a number of risks and uncertainties, including risks associated
with Organovo’s employees and equity plans. These risks and
uncertainties and other factors are identified and described in
more detail in the Company’s filings with the SEC, including
its most recent Annual Report on Form 10-K filed with the SEC on
June 15, 2021, as such risk factors are updated in its most
recently filed Quarterly Report on Form 10-Q filed with the SEC on
February 14, 2022. You should not place undue reliance on these
forward-looking statements, which speak only as of the date that
they were made. These cautionary statements should be considered
with any written or oral forward-looking statements that the
Company may issue in the future. Except as required by applicable
law, including the securities laws of the United States, the
Company does not intend to update any of the forward-looking
statements to conform these statements to reflect actual results,
later events or circumstances or to reflect the occurrence of
unanticipated events.
Investor Contact
Amato and Partners, LLCInvestor Relations
Counseladmin@amatoandpartners.com
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