Science 37 Reports Inducement Grant Under NASDAQ Listing Rule 5635(c)(4)
10 June 2023 - 6:51AM
Science 37 Holdings, Inc. (Nasdaq: SNCE), the industry-leading
Metasite™, today announced the granting of inducement equity awards
under the Science 37 Holdings, Inc. 2022 Employment Inducement
Incentive Award Plan (the “Plan”). The Plan was approved by Science
37’s Board of Directors in November 2022. In accordance with NASDAQ
Listing Rule 5635(c)(4), the awards were approved by Science 37’s
Compensation Committee and made as a material inducement to the
non-executive employees' entry into employment with the Company.
In connection with the commencement of
employment, on June 9, 2023, options to purchase an
aggregate 62,000 shares of Science 37 common stock at an exercise
price of $0.2978 per share, which was the closing sales price
of Science 37’s common stock on the Nasdaq Stock Market LLC on the
date of grant, were granted to 3 new employees.
The options have a 10-year term and a four-year
vesting schedule, with 25% of the shares subject to the option
vesting on the first anniversary of the grant date and the
remaining underlying shares vesting in equal monthly installments
until fully vested on the fourth anniversary of the grant date,
subject to the applicable employee's continued service with Science
37 through each applicable vesting date.
About Science 37Science 37
Holdings, Inc.’s (Nasdaq: SNCE) mission is to accelerate clinical
research by enabling universal trial access for patients. Through
our Metasite™ we reach an expanded population beyond the
traditional site, delivering on our goal of clinical research that
works for everyone—with greater patient diversity. Patients gain
the flexibility to participate from the comfort of their own homes,
at their local community provider, or at a traditional site when
needed. Our Metasite is powered by a proprietary technology
platform with in-house medical and operational experts that drive
uniform study orchestration, enabling greater compliance and
high-quality data. To learn more, visit www.science37.com, or email
science37@science37.com.
Cautionary Note Regarding
Forward-Looking StatementsThis press release contains
certain forward-looking statements within the meaning of the
federal securities laws, including statements regarding the
products offered by Science 37 and the markets in which it
operates, and Science 37’s anticipated growth and profitability.
These forward-looking statements generally are identified by the
words “believe,” “can,” “could”, “seek”, “project,” “expect,”
“anticipate,” “estimate,” “intend,” “strategy,” “future,”
“opportunity,” “plan,” “may,” “might”, “should,” “will,” “would,”
“will be,” “will continue,” “will likely result” and similar
expressions. Forward-looking statements are predictions,
projections and other statements about future events that are based
on current expectations and assumptions and, as a result, are
subject to risks and uncertainties. Many factors could cause actual
future events to differ materially from the forward-looking
statements in this press release, including but not limited to: (i)
the ability to maintain the listing of Science 37’s securities on
The Nasdaq Stock Market LLC, (ii) volatility in the price of
Science 37’s securities due to a variety of factors, including
changes in the competitive and highly regulated industries in which
Science 37 operates, variations in performance across competitors,
changes in laws and regulations affecting Science 37’s business,
changes in its capital structure, and general economic and
financial market conditions, including fluctuations in currency
exchange rates, economic instability, and inflationary conditions
(iii) the ability to implement business plans, forecasts, and other
expectations, and to identify and realize additional opportunities,
(iv) the risk that Science 37 may never achieve or sustain
profitability, (v) the risk that Science 37 will need to raise
additional capital to execute its business plan, which may not be
available on acceptable terms or at all, (vi) failure to realize
anticipated cost savings, and (vii) risks related to general
economic and financial market conditions. The foregoing list of
factors is not exhaustive. You should carefully consider the
foregoing factors and the other risks and uncertainties described
in the “Risk Factors” section of Science 37’s Annual Report on Form
10-K for the fiscal year ended December 31, 2022 filed with
the U.S. Securities and Exchange Commission (the “SEC”) on March 6,
2023 and in the other documents filed by Science 37 from time to
time with the SEC. These filings identify and address other
important risks and uncertainties that could cause actual events
and results to differ materially from those contained in the
forward-looking statements. Forward-looking statements speak only
as of the date they are made. Readers are cautioned not to put
undue reliance on forward-looking statements, and Science 37
assumes no obligation and does not intend to update or revise these
forward-looking statements, whether as a result of new information,
future events, or otherwise, except as required by law. Science 37
does not give any assurance that Science 37 will achieve its
expectations.
MEDIA INQUIRIES:Grazia
MohrenScience 37PR@science37.com
INVESTOR RELATIONS:Steve
HalperLifeSci AdvisorsInvestors@science37.com
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