secwatch.observer — SEC 8-K summary
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Issuer:     FIREFLY NEUROSCIENCE, INC. (AIFF)
CIK:        0000803578
Form:       8-K
Filed at:   2025-05-05T23:59:59+00:00
Accession:  0001437749-25-014384
Event type: m_and_a
Sentiment:  positive
Materiality: 0.70
Item codes: 1.01, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Firefly Neuroscience acquires Evoke Neuroscience; expands database, IP, commercial footprint
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- Purchase price $6M: 50% cash ($3M) and 50% common stock (857,143 shares at $3.50), plus $500K earn-out in cash if Evoke achieves $3M annualized revenues within 3 years.
- Acquisition adds >180,000 standardized EEG/ERP records, 27 granted patents, and >60 commercial users (more than 2x, 3x, and 10x expansions respectively).
- Evoke's CEO David Hagedorn to enter consulting agreement; Firefly aims to build first EEG/ERP-based foundation model of the human brain using NVIDIA Connect resources.
- Closing occurred May 1, 2025; Lock-Up on shares for 6 months or until registration effective; working capital adjustment threshold $90,000.
- $150,000 of cash directed to Evoke for post-closing operational expenses, excluded from working capital calculations.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/803578/000143774925014384/0001437749-25-014384-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/803578/000143774925014384/wavd20250502_8k.htm
  HTML page:      https://secwatch.observer/filing/0001437749-25-014384

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