WaveDancer settles Gerald litigation; extinguishes $1.5M obligation, releases 436,481 shares

FIREFLY NEUROSCIENCE, INC.

Settlement resolves Gerald's claims for $150K severance and $1.5M deferred consideration under GMI acquisition.
Company's counterclaim for damages under Stock Purchase Agreement also settled with mutual general releases.
Company pays Gerald $25,000 reimbursement for legal costs; all other obligations extinguished.
436,481 shares of WaveDancer common stock to be released from escrow 90 days after April 28, 2023.

item 1.01

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

FIREFLY NEUROSCIENCE, INC. entered into Settlement Agreement with Jeffrey Gerald (effective 2023-04-28).

Action: entry
Agreement: settlement
Counterparty: Jeffrey Gerald
Effective: 2023-04-28

Exact text from the filing

On April 28, 2023, WaveDancer, Inc. (the “Company”) and Jeffrey Gerald, the individual from whom the Company purchased all the outstanding shares of Gray Matters, Inc. (“GMI”), executed an agreement to settle pending litigation between them (the “Settlement Agreement”).

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FIREFLY NEUROSCIENCE, INC. filing history →

Source: SEC EDGAR

accession 0001437749-23-012461

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