AIFF...$7.57...🥳...No Position...Watching for another entry...KENMORE, N.Y., Feb. 21, 2025 (GLOBE NEWSWIRE) -- 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, is pleased to announced that it has received total proceeds of $8,824,710 from the exercise of warrants to purchase 823,530 shares of the common stock of the Company, par value $0.0001 per share (“common stock”), at an exercise price of $6.83, and warrants to purchase 800,000 shares of commons stock, at an exercise price of $4.00, respectively. The warrants were issued pursuant to private placements that closed on August 12, 2024 and December 20, 2024, and no new warrants were issued by the Company as a result of the exercises.
The proceeds from the exercise of the warrants will be used for general working capital purposes, including Firefly’s recently announced strategic initiative to build the world’s first foundation model of the human brain using its U.S. Food and Drug Administration (FDA)-cleared Brain Network Analytics (“BNA™â€ť) technology platform.
“I want to thank our shareholders for such a strong vote of confidence in our ability to unleash the power of our FDA-cleared BNA™ technology,” said Greg Lipschitz, Executive Chairman of Firefly. “The warrant exercises have significantly strengthened our current cash position, and we are now in the enviable position of having cash runway well into mid-2026.”
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