WaveDancer (WAVD) to Pursue Strategic Alternatives

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Go back to WaveDancer (WAVD) to Pursue Strategic Alternatives

WaveDancer Closes Majority Investment in Gray Matters, Inc. to Seasoned Start-up Investors; Announces Intent to Pursue Strategic Alternatives

March 21, 2023 4:30 PM EDT

FAIRFAX, Va., March 21, 2023 (GLOBE NEWSWIRE) -- WaveDancer, Inc., (NASDAQ: WAVD) announced today that it has sold its blockchain-enabled supply chain management software subsidiary, Gray Matters, Inc. (GMI) to Gray Matters Data Corporation (GMDC), whose lead investor is venture capital firm StealthPoint, LLC (StealthPoint). StealthPoint and its investors will invest $3 million of cash into GMDC with the option to invest an additional $1 million within 90 days of closing.

WaveDancer has retained an indirect 20% interest in GMI through stock in GMDC received at closing. In addition, WaveDancer received $1 million of cash at closing... More