WaveDancer Announces Filing of a Registration Statement on Form S-4 with the U.S. SEC
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Insights
The filing of a Registration Statement on Form S-4 is a significant procedural step in the merger process between WaveDancer, Inc. and Firefly Neuroscience, Inc. This document, filed with the SEC, typically includes vital information such as the terms of the merger, financial statements and other key data that shareholders need to make an informed decision. From a financial perspective, the merger's success hinges on the synergies and potential market expansion opportunities that Firefly's AI-enabled technology could bring to WaveDancer's portfolio.
Investors should scrutinize the preliminary proxy statement for details on how the merger could affect WaveDancer's earnings, market share and competitive position within the AI and neuroscience sectors. A merger that promises to enhance product offerings and drive innovation can be a catalyst for growth, potentially leading to an increase in shareholder value. However, the costs associated with such mergers and the integration risks should not be overlooked as they can have material implications on the company's financial health in the short-term.
Firefly Neuroscience's focus on AI for neurological conditions represents a cutting-edge area in medical technology. The potential impact of AI on diagnosing and treating conditions like dementia and concussion is immense, offering the possibility of more personalized and effective interventions. The merger could signal an acceleration in WaveDancer's entry into the healthcare technology market, a sector known for stringent regulatory requirements and high barriers to entry.
Stakeholders should consider the research and development trajectory of Firefly's technology. If their AI solutions show promise in clinical settings, it could lead to significant advancements in patient care and open up new revenue streams for WaveDancer. However, the long development cycles and the uncertainty of clinical trial outcomes are important factors that could affect the anticipated benefits of the merger.
The merger between WaveDancer and Firefly Neuroscience taps into the rapidly growing market for AI in healthcare, particularly in neuroscience. Investors should note that this sector is expected to expand as the global population ages and the prevalence of neurological conditions increases. The demand for innovative solutions in this space presents a substantial opportunity for companies like WaveDancer.
Understanding the competitive landscape is crucial. The success of the merger will largely depend on how well the combined entity can leverage AI to capture market share from established players. It's also important to monitor the response of competitors to this merger, as it may prompt market consolidation or trigger new partnerships. The ability of WaveDancer to integrate Firefly's technology and expertise effectively will be a determinant in realizing the full potential of this strategic move.
Progress towards closing on previously announced merger with Firefly Neuroscience, Inc., an AI-enabled technology company
FAIRFAX, Va., Jan. 23, 2024 (GLOBE NEWSWIRE) -- WaveDancer, Inc. (“WaveDancer”) (Nasdaq: WAVD) today announced the filing of a Registration Statement on Form S-4 (the “Registration Statement”) with the U.S. Securities and Exchange Commission (the “SEC”).
The Registration Statement contains a preliminary proxy statement in connection with the Company’s previously announced merger with Firefly Neuroscience, Inc. (“Firefly”), an artificial intelligence (AI) company focused on creating better neurological outcomes for dementia, concussion, and other brain conditions. Although the Registration Statement has not yet become effective and the information contained therein is subject to change, it provides important information about WaveDancer, Firefly, and the proposed transactions.
The definitive transaction agreements were announced on November 16, 2023.
The transaction is expected to close during the second quarter of 2024, subject to customary closing conditions, including approval of the transactions by the stockholders of WaveDancer.
About Firefly
Firefly Neuroscience Inc. is a medical technology company that has developed its FDA-510(k) cleared Brain Network Analytics (BNA™) software 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. Brain Network Analytics (BNA™) is a scalable platform built on the company's extensive proprietary database of standardized, high-definition EEG recordings, including behavioral data. Firefly's biomarker discovery AI platform further exploits the database to discover useful biomarkers for clinicians and pharmaceutical companies. With a focus on developing state-of-the-art technologies that bridge the gap between neuroscience and clinical practice, Firefly Neuroscience Inc. is dedicated to transforming brain health by advancing diagnostic and treatment approaches. For more information please visit: https://fireflyneuro.com.
About WaveDancer
WaveDancer, based in Fairfax, VA, has been servicing federal and commercial customers since 1979. The Company is in the business of developing and maintaining information technology (“IT”) systems, modernizing client information systems, and performing other IT-related professional services to government and commercial organizations. https://wavedancer.com.
In connection with the merger, WaveDancer’s current business will be sold and WaveDancer, which intends to change its name to Firefly Neuroscience, will solely advance the current Firefly business.
Additional Information
This press release may be deemed to be solicitation material with respect to the proposed transactions between WaveDancer and Firefly. This press release is not a substitute for the Registration Statement, definitive proxy statement/prospectus, or any other documents that WaveDancer may file with the SEC or send to security holders in connection with the proposed transaction.
Investors and security holders may obtain free copies of the documents filed with the SEC, once available, on WaveDancer’s website at www.wavedancer.com, or on the SEC’s website at www.sec.gov.
Participants in the Solicitation
Each of WaveDancer, Firefly and their respective directors and executive officers may be deemed to be participants in the solicitation of proxies from the stockholders of WaveDancer in connection with the proposed transactions. Information about the executive officers and directors of WaveDancer is set forth in The Registration Statement. Other information regarding the interests of such individuals, who may be deemed to be participants in the solicitation of proxies for the stockholders of WaveDancer, is set forth in the combined Registration/Proxy Statement as initially filed and subsequently amended. You may obtain free copies of these documents as described above.
Cautionary Statements Regarding Forward-Looking Statements
This press release contains forward-looking statements, including statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These statements may be identified by words and phrases such as “aims,” “anticipates,” “believes,” “could,” “designed to,” “estimates,” “expects,” “forecasts,” “goal,” “intends,” “may,” “plans,” “possible,” “potential,” “seeks,” “will,” and variations of these words and phrases or similar expressions that are intended to identify forward-looking statements. These forward-looking statements include, without limitation, statements regarding the proposed merger between WaveDancer and Firefly, including whether and when the transactions will be consummated; and other statements that are not historical fact. The timing of events could differ materially from those anticipated in such forward-looking statements as a result of these risks and uncertainties, which include, without limitation: (i) the risk that the conditions to the closing of the proposed transactions are not satisfied, including the failure to timely obtain stockholder approval for the transactions, if at all; (ii) uncertainties as to the timing of the consummation of the proposed transactions and the ability of each of WaveDancer and Firefly to consummate the proposed merger; and (iii) risks related to the inability of the combined company to obtain sufficient additional capital to continue to advance Firefly’s products, clinical and pharmaceutical programs. These and other risks and uncertainties are more fully described in the Registration/Proxy Statement You should not place undue reliance on these forward-looking statements, which are made only as of the date hereof or as of the dates indicated in the forward-looking statements. Except as required by law, WaveDancer expressly disclaims any obligation or undertaking to update or revise any forward-looking statements contained herein to reflect any change in its expectations with regard thereto or any change in events, conditions or circumstances on which any such statements are based.
Contact Information
WaveDancer
Tim Hannon, CFO
Investors@WaveDancer.com
Firefly
Paul Krzywicki, CFO
1-888-237-6412
FAQ
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