Firefly Neuroscience, Inc. (NASDAQ: AIFF), a $38 million market cap company known for its Artificial Intelligence (AI) solutions in brain health, has acquired Evoke Neuroscience, Inc., a medical device company focused on technologies for brain health assessment. The acquisition, announced today, is a strategic move for Firefly to advance its proprietary Brain Network Analytics (BNA™) technology and expand its database and patent portfolio. The company’s stock has shown significant volatility, trading at $3.27, down over 60% from its 52-week high.
The transaction includes a $6 million purchase price, half in cash and half in Firefly common stock, priced at $3.50 per share. Additionally, Evoke investors may receive a $500,000 earn-out if the acquired business achieves $3 million in annualized revenues within three years.
https://in.investing.com/news/company-news/firefly-neuroscience-acquires-evoke-for-brain-health-tech-93CH-4808089
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