{"id":797347,"date":"2024-12-31T09:03:22","date_gmt":"2024-12-31T14:03:22","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/firefly-neuroscience-closes-on-financing-of-up-to-12-4-million\/"},"modified":"2024-12-31T09:03:22","modified_gmt":"2024-12-31T14:03:22","slug":"firefly-neuroscience-closes-on-financing-of-up-to-12-4-million","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/firefly-neuroscience-closes-on-financing-of-up-to-12-4-million\/","title":{"rendered":"Firefly Neuroscience Closes on Financing of up to $12.4 Million"},"content":{"rendered":"
\n

TORONTO, Dec. 31, 2024 (GLOBE NEWSWIRE) — Firefly Neuroscience, Inc. (\u201cFirefly,\u201d \u201cwe,\u201d or the \u201cCompany\u201d) (NASDAQ: AIFF), an Artificial Intelligence (\u201cAI\u201d) company developing innovative solutions that improve brain health outcomes for patients with neurological and mental disorders, today announced the closing of up to $12.4 million consisting of $2.4 million up front in the form of senior secured convertible notes at $3.00 per share, subject to adjustment, and an equity line of credit (the \u201cELOC\u201d) for up to $10 million. The proceeds from these financings will be used for growth, commercialization of its FDA-510(k) cleared Brain Network Analytics (BNA\u2122) technology, and general working capital purposes.<\/p>\n

“The closing of this financing strengthens our balance sheet and provides us the financial flexibility to continue to execute on our growth strategy,\u201d said Greg Lipschitz, Executive Chairman of Firefly. \u201cThe additional working capital will allow us to accelerate two strategic commercialization pathways for our BNA technology. Through partnering with neuroscience pharmaceutical companies and by supporting US neurologists and psychiatrists in the diagnosis and optimization of patient care, we are driven to improve outcomes for people suffering from brain health illnesses.\u201d<\/p>\n

\n About Firefly<\/strong>
\n
Firefly (NASDAQ: AIFF) is an Artificial Intelligence (\u201cAI\u201d) company developing innovative solutions that improve brain health outcomes for patients with neurological and mental disorders. Firefly\u2019s FDA-510(k) cleared Brain Network Analytics (BNA\u2122) 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\u2122 commercially, targeting pharmaceutical companies engaged in drug research and clinical trials, as well as medical practitioners for clinical use.<\/p>\n

Brain Network Analytics was developed using artificial intelligence and machine learning on Firefly\u2019s 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\u2122, in conjunction with an FDA-cleared EEG system, can provide clinicians with comprehensive insights into brain function. These insights can enhance a clinician\u2019s ability to accurately diagnose mental and cognitive disorders and to evaluate what therapy and\/or drug is best suited to optimize a patient\u2019s outcome.<\/p>\n

Please visit\u00a0https:\/\/fireflyneuro.com\/<\/a>\u00a0for more information.<\/p>\n

\n Forward-Looking Statements<\/strong>
\n
Certain statements in this press release and the information incorporated herein by reference may constitute \u201cforward-looking statements\u201d for purposes of the federal securities laws concerning Firefly. These forward-looking statements include express or implied statements relating to Firefly\u2019s management teams\u2019 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 \u201canticipate,\u201d \u201cbelieve,\u201d \u201ccontemplate,\u201d \u201ccontinue,\u201d \u201ccould,\u201d \u201cestimate,\u201d \u201cexpect,\u201d \u201cintends,\u201d \u201cmay,\u201d \u201cmight,\u201d \u201cplan,\u201d \u201cpossible,\u201d \u201cpotential,\u201d \u201cpredict,\u201d \u201cproject,\u201d \u201cshould,\u201d \u201cwill,\u201d \u201cwould\u201d 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\u2019s 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 BNATM<\/sup> technology; risks related to Firefly\u2019s ability to recognize the anticipated benefits of the merger (the \u201cMerger\u201d) with WaveDancer, Inc. (\u201cWaveDancer\u201d); risks related to Firefly\u2019s ability to correctly estimate its operating expenses and unanticipated spending and costs that could reduce Firefly\u2019s cash resources; the ability of Firefly to protect its intellectual property rights; competitive responses to the Merger; 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 \u201cRisk Factors\u201d 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\u2019s 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.<\/p>\n

\n Investor Contact<\/strong>
\n
KCSA Strategic Communications
Valter Pinto or Jack Perkins
(212) 896-1254
Firefly@KCSA.com<\/a><\/p>\n

\n Media Contact<\/strong>
\n
KCSA Strategic Communications
Raquel Cona, Vice President
(516) 779-2630
Rcona@KCSA.com<\/a><\/p>\n

\"\"
\n
\n \"\"\n <\/div>\n

<\/div>\n","protected":false},"excerpt":{"rendered":"

TORONTO, Dec. 31, 2024 (GLOBE NEWSWIRE) — Firefly Neuroscience, Inc. (\u201cFirefly,\u201d \u201cwe,\u201d or the \u201cCompany\u201d) (NASDAQ: AIFF), an Artificial Intelligence (\u201cAI\u201d) company developing innovative solutions that improve brain health outcomes for patients with neurological and mental disorders, today announced the closing of up to $12.4 million consisting of $2.4 million up front in the form of senior secured convertible notes at $3.00 per share, subject to adjustment, and an equity line of credit (the \u201cELOC\u201d) for up to $10 million. The proceeds from these financings will be used for growth, commercialization of its FDA-510(k) cleared Brain Network Analytics (BNA\u2122) technology, and general working capital purposes. “The closing of this financing strengthens our balance sheet and provides us the financial flexibility … <\/p>\n

Continue reading “Firefly Neuroscience Closes on Financing of up to $12.4 Million”<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-797347","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"\nFirefly Neuroscience Closes on Financing of up to $12.4 Million - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/firefly-neuroscience-closes-on-financing-of-up-to-12-4-million\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Firefly Neuroscience Closes on Financing of up to $12.4 Million - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"TORONTO, Dec. 31, 2024 (GLOBE NEWSWIRE) — Firefly Neuroscience, Inc. (\u201cFirefly,\u201d \u201cwe,\u201d or the \u201cCompany\u201d) (NASDAQ: AIFF), an Artificial Intelligence (\u201cAI\u201d) company developing innovative solutions that improve brain health outcomes for patients with neurological and mental disorders, today announced the closing of up to $12.4 million consisting of $2.4 million up front in the form of senior secured convertible notes at $3.00 per share, subject to adjustment, and an equity line of credit (the \u201cELOC\u201d) for up to $10 million. The proceeds from these financings will be used for growth, commercialization of its FDA-510(k) cleared Brain Network Analytics (BNA\u2122) technology, and general working capital purposes. “The closing of this financing strengthens our balance sheet and provides us the financial flexibility … Continue reading "Firefly Neuroscience Closes on Financing of up to $12.4 Million"\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.marketnewsdesk.com\/index.php\/firefly-neuroscience-closes-on-financing-of-up-to-12-4-million\/\" \/>\n<meta property=\"og:site_name\" content=\"Market Newsdesk\" \/>\n<meta property=\"article:published_time\" content=\"2024-12-31T14:03:22+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=OTMyNTA2OSM2Njc0MzYxIzIyOTIyODQ=\" \/>\n<meta name=\"author\" content=\"Newsdesk\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Newsdesk\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"4 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/firefly-neuroscience-closes-on-financing-of-up-to-12-4-million\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/firefly-neuroscience-closes-on-financing-of-up-to-12-4-million\\\/\"},\"author\":{\"name\":\"Newsdesk\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/#\\\/schema\\\/person\\\/482f27a394d4fda80ecb5499e519d979\"},\"headline\":\"Firefly Neuroscience Closes on Financing of up to $12.4 Million\",\"datePublished\":\"2024-12-31T14:03:22+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/firefly-neuroscience-closes-on-financing-of-up-to-12-4-million\\\/\"},\"wordCount\":835,\"image\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/firefly-neuroscience-closes-on-financing-of-up-to-12-4-million\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.globenewswire.com\\\/newsroom\\\/ti?nf=OTMyNTA2OSM2Njc0MzYxIzIyOTIyODQ=\",\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/firefly-neuroscience-closes-on-financing-of-up-to-12-4-million\\\/\",\"url\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/firefly-neuroscience-closes-on-financing-of-up-to-12-4-million\\\/\",\"name\":\"Firefly Neuroscience Closes on Financing of up to $12.4 Million - 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