CASTLE ROCK, Colo.,
Sept. 23, 2016 /PRNewswire/
-- Venaxis®, Inc. (Nasdaq: APPY), announced that on
September 21, 2016, the Company
approved the grant of stock options to six new employees, hired in
connection with the Company's acquisition of BiOptix Diagnostics,
Inc., to purchase an aggregate of 95,000 shares of common stock.
The stock options were granted as inducement grants material to the
new employees entering into employment with the Company, as
permitted under NASDAQ Listing Rule 5635(c)(4). One award
recipient, Richard Whitcomb, Senior Vice President of the company
and a newly appointed executive officer, was granted stock options
to acquire 35,000 shares of the Company's common stock.
Each of the stock option grants to the new employees, which are
made outside of the Company's 2002 Stock Incentive Plan, as
amended, has the following material terms. The exercise price of
the stock options granted is $3.78
per share, the closing trading price of the Company's common stock
on the date of grant, September 21,
2016. The stock options are subject to a two (2) year
vesting schedule with 50% of each of the stock options vesting and
becoming excercisable at the six (6) month anniversary of the date
of grant, and the balance of the options vesting ratably in
quarterly installments over the following six quarters. The
stock options have a term of ten (10) years after the date of
grant, subject to earlier termination of employment or cessation of
service with the Company.
About Venaxis, Inc.--
Venaxis, Inc., through its operating subsidiary BiOptix
Diagnostics, Inc., has developed an Enhanced Surface Plasmon
Resonance ("SPR") instrument designed to increase the flexibility
and reliability of SPR, in order to address the increasing demand
for instruments suitable for a broader range of applications, while
offering far greater performance per dollar than other instruments
commercially available. BiOptix SPR biosensors shed light on
important binding parameters that are crucial for determining
whether a biologic or small molecule drug will be efficacious in
humans and at what dose a drug should be administered.
Contact: InvestorRelations@venaxis.com
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SOURCE Venaxis, Inc.