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SAN DIEGO, May 05, 2017 -- Cytori Therapeutics, Inc. (NASDAQ:CYTX) (the “Company”), announced today that the Compensation Committee of the Company's Board of Directors granted non-qualified stock options on May 4, 2017 to eight (8) new employees (the “Optionees”) exercisable for an aggregate of up to 24,500 shares of the Company's common stock (the “Option Shares”), with a per share exercise price of $0.97, which was the closing price of Cytori’s common stock on the Nasdaq Capital Market as of May 4, 2017. The stock options have a ten-year term and vest over a period of four years, with one quarter of the Option Shares vesting on the first anniversary of each Optionee’s employment commencement date with the Company, and with the remainder of the Option Shares vesting over the ensuing three years in thirty-six (36) equal, consecutive, monthly installments, in each case subject to each such Optionee’s continued employment with the Company as of the applicable vesting dates. The stock options are subject to the terms and conditions of the Company’s 2015 New Employee Incentive Plan and the stock option agreements pursuant to which the stock options have been granted.
The stock options were granted as an inducement material to the Optionees’ entering into employment with the Company in accordance with NASDAQ Listing Rule 5635(c)(4).
About Cytori Therapeutics, Inc.
Cytori is a therapeutics company developing regenerative and oncologic therapies from its proprietary cell therapy and nanoparticle platforms for a variety of medical conditions. Data from preclinical studies and clinical trials suggest that Cytori Cell Therapy™ acts principally by improving blood flow, modulating the immune system, and facilitating wound repair. As a result, Cytori Cell Therapy™ may provide benefits across multiple disease states and can be made available to the physician and patient at the point-of-care through Cytori’s proprietary technologies and products. Cytori Nanomedicine™ is developing encapsulated therapies for regenerative medicine and oncologic indications. For more information, visit www.cytori.com.
Cytori Therapeutics, Inc. Tiago Girao 1.858.458.0900 [email protected]
