Company Overview - WaveDancer, Inc. will change its name to Firefly Neuroscience, Inc. as part of a merger agreement with Firefly Neuroscience, Inc. and FFN Merger Sub, Inc. [1][6] - Firefly Neuroscience Inc. focuses on medical technology, specifically developing diagnostic and treatment approaches for mental illnesses and cognitive disorders using its FDA-510(k) cleared Brain Network Analytics (BNA™) software platform [5] Reverse Stock Split Details - The company intends to implement a reverse stock split at a ratio of one post-split share for every three pre-split shares, effective at 12:01 p.m. on August 12, 2024 [1][3] - The number of outstanding shares will decrease from approximately 2,013,180 to about 671,060 shares, with adjustments for fractional shares [4] - Stockholders will not need to exchange existing stock certificates, as shares held in brokerage accounts will be automatically adjusted [3][4] Stockholder Impact - The reverse stock split will uniformly affect all stockholders, maintaining their percentage interest in the company's equity, except for fractional shares which will be rounded up [4] - Proportional adjustments will be made to equity awards, convertible preferred stock, and warrants in line with the reverse stock split [4] Future Operations - Following the merger, WaveDancer's current business will be sold, and the company will solely focus on advancing the Firefly business [6]
WaveDancer Announces Reverse Stock Split