WAVD - WaveDancer and Firefly Neuroscience an AI-Driven Brain Health Company Each Receive Respective Stockholder Approvals for Merger | Benzinga
FAIRFAX, Va., March 18, 2024 (GLOBE NEWSWIRE) -- WaveDancer, Inc. ("WaveDancer") (NASDAQ:WAVD) and Firefly Neuroscience, Inc. ("Firefly") an AI-driven brain health company, each received the requisite stockholder approvals required to consummate the merger between both companies. The WaveDancer stockholder approval was obtained at a special meeting of its stockholders held on March 14, 2024. The Firefly approval was obtained through a written consent by the holders of a majority of the outstanding voting shares of Firefly.
Approval of the proposals by the WaveDancer stockholders will enable WaveDancer to proceed with its merger with Firefly, a medical technology and AI company developing and pioneering innovative neuroscientific solutions to improve outcomes for patients with mental illnesses and neurological disorders. Firefly has developed its FDA 510(k)-cleared Brain Network Analytics software platform (the "BNA Platform") and is focused on advancing diagnostic and treatment approaches for people suffering from mental illnesses and cognitive disorders, including depression, dementia, anxiety disorders, concussions, and attention-deficit/hyperactivity disorder (ADHD). "The WaveDancer favorable shareholder vote is an important step in consummating the merger and reinventing WaveDancer as an AI-enabled neurological health platform," said Jamie Benoit, Chairman and CEO of WaveDancer. "We thank our shareholders for participating in the vote."
Given stockholder support, WaveDancerwill continue forward with its merger efforts and expects the deal to close in Q2 2024, subject to satisfying the closing conditions which include meeting the requirements for the combined company to be listed on Nasdaq. The combined company will focus on continuing to develop and commercialize Firefly's BNA platform, which was previously approved by the U.S. Food and Drug Administration. Upon closing, the combined company is expected to operate under the name Firefly Neuroscience, Inc., and trade on the Nasdaq Capital Market.
Additional Information About the WaveDancer/Firefly Merger and Where to Find It
As previously announced, on November 15, 2023, WaveDancer, FFN Merger Sub, Inc., a Delaware corporation and a wholly-owned subsidiary of WaveDancer ("Merger Sub"), and Firefly, entered ...