FAIRFAX, Va. And TORONTO, May 14, 2024 (GLOBE NEWSWIRE) -- Firefly Neuroscience, Inc. (“Firefly”), a pioneering artificial intelligence (“AI”) company developing innovative neuroscientific solutions to improve outcomes for patients with mental illnesses and neurological disorders, today announced the appointment of David Johnson as its Executive Chairman upon closing of its planned merger with WaveDancer, Inc. (“WaveDancer”) (NASDAQ: WAVD). Firefly has entered into a definitive agreement and plan of merger (as amended, the “Merger Agreement”) with WaveDancer, which has been approved by the stockholders of both companies and both companies are working towards meeting the final closing conditions.
WaveDancer shares are trading higher Monday after the company announced that both WaveDancer and Firefly Neuroscience, Inc. have each received the requisite stockholder approvals required to consummate the merger between both companies. WaveDancer said that it obtained stockholder approval at a special meeting of its stockholders held on March 14, and the Firefly approval was obtained through a written consent by the holders of a majority of the outstanding voting shares of Firefly.
U.S. stocks traded higher this morning, with the Dow Jones index gaining over 100 points on Monday. Following the market opening Monday, the Dow traded up 0.36% to 38,855.72 while the NASDAQ rose 1.43% to 16,200.95. The S&P 500 also rose, gaining, 1.02% to 5,169.49.
Shares of Science Applications International Corporation (NYSE: SAIC) fell sharply during Monday’s session after the company reported financial fourth-quarter EPS below estimates.
Successful votes from both parties’ stockholders mark a critical step toward deal closing with the pioneering artificial intelligence-enabled neurological technology company.
