Heritage Global Partners Reports Inducement Grant Under Nasdaq Listing Rule 5635(c)(4)
August 26, 2021 04:15 PM Eastern Daylight Time
SAN DIEGO–(BUSINESS WIRE)–Heritage Global Inc. (Nasdaq: HGBL), an asset services company specializing in financial and industrial asset transactions, is reporting an inducement option grant under Nasdaq Listing Rule 5635(c)(4). In connection with the acquisition of substantially all of the assets of American Laboratory Trading (“ALT”) by a subsidiary of Heritage Global, the Heritage Global Board of Directors approved a non-qualified stock option award to purchase 150,000 shares of Heritage Global’s common stock to Jayson Bernstein, President of ALT. The option was granted outside of Heritage Global’s 2016 Stock Option Plan as an inducement material to Mr. Bernstein’s acceptance of employment with Heritage Global following its acquisition of substantially all of the assets of ALT. The stock option will have an exercise price equal to $1.78, the closing price of Heritage Global’s common stock on August 20, 2021. The stock option vests in equal annual installments over four years, commencing on August 23, 2021, and is subject to Mr. Bernstein’s continued service through the applicable vesting dates.
About Heritage Global Inc.
Heritage Global Inc. (NASDAQ: HGBL) is an asset services company specializing in financial and industrial asset transactions. The company provides a full suite of services including market making, acquisitions, dispositions, valuations and secured lending. We focus on identifying, valuing, acquiring and monetizing underlying tangible and intangible assets across more than twenty-five global sectors. The company acts as an adviser, as well as a principal, acquiring or brokering turnkey manufacturing facilities, surplus industrial machinery and equipment, industrial inventories, accounts receivable portfolios, intellectual property, and entire business enterprises.