Note 16 - Subsequent Events |
12 Months Ended | ||
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Dec. 31, 2021 | |||
| Notes to Financial Statements | |||
| Subsequent Events [Text Block] |
On March 18, 2022 the Company entered into a Stock and Warrant Purchase Agreement to purchase all the issued and outstanding common stock and warrants of Knowmadics, Inc., a Virginia corporation. The acquisition is conditioned upon the approval of the Company’s shareholders, financing, and other customary closing conditions. The purchase price is $90 million payable in cash of approximately $56.5 million and WaveDancer common stock of approximately $33.5 million. Subject to shareholder approval, we intend to raise approximately $66.5 million in a private offering of common shares to provide the cash consideration for the transaction and related fees and expenses and to provide additional operating liquidity. The transaction is expected to close in the second quarter of 2022.
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- References No definition available.
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- Definition The entire disclosure for significant events or transactions that occurred after the balance sheet date through the date the financial statements were issued or the date the financial statements were available to be issued. Examples include: the sale of a capital stock issue, purchase of a business, settlement of litigation, catastrophic loss, significant foreign exchange rate changes, loans to insiders or affiliates, and transactions not in the ordinary course of business. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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