Firefly Neuroscience Announces Inducement Grant Under Nasdaq Listing Rule 5635(c)(4)
25 Oktober 2024 - 10:10PM
Firefly Neuroscience, Inc. (“Firefly,” or the “Company”) (NASDAQ:
AIFF), an Artificial Intelligence (“AI”) company developing
innovative solutions that improve brain health outcomes for
patients with neurological and mental disorders, today announced
that the Board of Directors of Firefly granted 557,885 restricted
shares (the “Shares”) as an inducement grant to David Johnson,
the Company's Executive Chairman, pursuant to that certain
Employment Agreement (the “Agreement”), by and between the Company
and Mr. Johnson. The Shares were granted in accordance with Nasdaq
Listing Rule 5635(c)(4) and are subject to the terms and conditions
of the Agreement and the Company’s 2024 Long-Term Incentive Plan.
The Shares will vest as follows: one-half of the Shares shall
vest on each of the sixth and twelfth month anniversaries of the
grant date. provided that Mr. Johnson has not incurred a
termination of service prior to the applicable vesting date.
About FireflyFirefly (NASDAQ:
AIFF) is an Artificial Intelligence (“AI”) company developing
innovative solutions that improve brain health outcomes for
patients with neurological and mental disorders. Firefly’s
FDA-510(k) cleared Brain Network Analytics (BNA™) technology
revolutionizes diagnostic and treatment monitoring methods for
conditions such as depression, dementia, anxiety disorders,
concussions, and ADHD. Over the past 15 years, Firefly has built a
comprehensive database of brain wave tests, securing patent
protection, and achieving FDA clearance. The Company is now
launching BNA™ commercially, targeting pharmaceutical companies
engaged in drug research and clinical trials, as well as medical
practitioners for clinical use.
Brain Network Analytics was developed using
artificial intelligence and machine learning on Firefly’s extensive
proprietary database of standardized, high-definition longitudinal
electroencephalograms (EEGs) of over 17,000 patients representing
twelve disorders, as well as clinically normal patients. BNA™, in
conjunction with an FDA-cleared EEG system, can provide clinicians
with comprehensive insights into brain function. These insights can
enhance a clinician’s ability to accurately diagnose mental and
cognitive disorders and to evaluate what therapy and/or drug is
best suited to optimize a patient’s outcome.
Please visit https://fireflyneuro.com/ for
more information.
Forward-Looking
StatementsCertain statements in this press release and the
information incorporated herein by reference may constitute
“forward-looking statements” for purposes of the federal securities
laws concerning Firefly. These forward-looking statements include
express or implied statements relating to Firefly’s management
teams’ expectations, hopes, beliefs, intentions, or strategies
regarding the future. In addition, any statements that refer to
projections, forecasts or other characterizations of future events
or circumstances, including any underlying assumptions, are
forward-looking statements. The words “anticipate,” “believe,”
“contemplate,” “continue,” “could,” “estimate,” “expect,”
“intends,” “may,” “might,” “plan,” “possible,” “potential,”
“predict,” “project,” “should,” “will,” “would” and similar
expressions may identify forward-looking statements, but the
absence of these words does not mean that a statement is not
forward-looking. These forward-looking statements are based on
current expectations and beliefs concerning future developments and
their potential effects. There can be no assurance that future
developments affecting Firefly will be those that have been
anticipated. These forward-looking statements involve a number of
risks, uncertainties (some of which are beyond Firefly’s control)
or other assumptions that may cause actual results or performance
to be materially different from those expressed or implied by these
forward-looking statements. These risks and uncertainties include,
but are not limited to: risks related to development and
commercialization of BNA™ technology; risks related to Firefly’s
ability to recognize the anticipated benefits of the merger (the
“Merger”) with WaveDancer, Inc. (“WaveDancer”); risks related to
Firefly’s ability to correctly estimate its operating expenses and
expenses associated with the Merger and other events and
unanticipated spending and costs that could reduce Firefly’s cash
resources; the ability of Firefly to protect its intellectual
property rights; competitive responses to the business combination;
unexpected costs, charges or expenses resulting from the Merger;
potential adverse reactions or changes to business relationships
resulting from the completion of the Merger; legislative,
regulatory, political and economic developments; and those factors
described under the heading “Risk Factors” in the in the
registration statement on Form S-4 filed by WaveDancer with the
Securities and Exchange Commission on January 22, 2024, as amended,
and declared effective on February 6, 2024. Should one or more of
these risks or uncertainties materialize, or should any of
Firefly’s assumptions prove incorrect, actual results may vary in
material respects from those projected in these forward-looking
statements. It is not possible to predict or identify all such
risks. Forward-looking statements included in this press release
only speak as of the date they are made, and Firefly does not
undertake any obligation to update or revise any forward-looking
statements, whether as a result of new information, future events
or otherwise, except as may be required under applicable securities
laws.
Firefly Neuroscience Investor
ContactsKCSA Strategic CommunicationsValter Pinto / Jack
Perkins(212) 896-1254Firefly@KCSA.com
Firefly Neuroscience Media
ContactKCSA Strategic CommunicationsRaquel Cona, Vice
President(516) 779-2630Rcona@KCSA.com
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