InvestmentMay 12, 2026, 04:37 PM
Firefly Neuroscience to Raise Up to $1M via Unit Sale
AI Summary
Firefly Neuroscience, Inc. has entered into a securities purchase agreement to issue and sell up to 666,667 units to an accredited investor, aiming to raise up to $1,000,000 in gross proceeds. Each unit, priced at $1.50, includes one share of common stock and two common stock purchase warrants with exercise prices of $1.88 and $2.50. The closing of this offering is contingent upon obtaining shareholder approval for the warrant exercise and the effectiveness of a resale registration statement, which the company is required to file by May 21, 2026.
Key Highlights
- Firefly Neuroscience entered an agreement to sell up to 666,667 units for up to $1,000,000 gross proceeds.
- Units are priced at $1.50 each, comprising one common share and two common stock purchase warrants.
- Warrants have exercise prices of $1.88 (150%) and $2.50 (200%), exercisable over five years.
- Warrant exercise is contingent on obtaining shareholder approval within 90 days of the agreement date.
- Company will file an S-1 registration statement by May 21, 2026, for the resale of the securities.
- Closing of the offering is subject to the registration statement becoming effective and shareholder approval.
- Proceeds from the sale will be used for general corporate and working capital purposes.
Price Impact
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