Marpai Closes $10M Public Offering
Ticker: MRAI · Form: 8-K · Filed: Jun 25, 2024 · CIK: 1844392
| Field | Detail |
|---|---|
| Company | Marpai, INC. (MRAI) |
| Form Type | 8-K |
| Filed Date | Jun 25, 2024 |
| Risk Level | medium |
| Pages | 2 |
| Reading Time | 2 min |
| Key Dollar Amounts | $0.0001, $11,830,000, $11,000,000, $5 million, $6,830,000 |
| Sentiment | bullish |
Sentiment: bullish
Topics: offering, capital-raise, financing
TL;DR
Marpai just closed a $10M offering, cash in hand for growth.
AI Summary
On June 21, 2024, Marpai, Inc. announced the closing of its previously disclosed underwritten public offering. The company successfully raised approximately $10.0 million in gross proceeds before deducting underwriting discounts and commissions and other offering expenses. Marpai intends to use the net proceeds for general corporate purposes, including working capital and potential strategic initiatives.
Why It Matters
This capital infusion provides Marpai with additional financial resources to fund its operations and pursue growth opportunities, potentially strengthening its market position.
Risk Assessment
Risk Level: medium — While raising capital is positive, the success and impact of the use of proceeds will determine the long-term financial health of the company.
Key Numbers
- $10.0M — Gross Proceeds (Raised from underwritten public offering on June 21, 2024.)
Key Players & Entities
- Marpai, Inc. (company) — Registrant
- June 21, 2024 (date) — Date of earliest event reported
- $10.0 million (dollar_amount) — Gross proceeds from public offering
- Delaware (jurisdiction) — State of Incorporation
- Tampa, Florida (location) — Principal Executive Offices
FAQ
What was the total amount of gross proceeds raised in the public offering?
Marpai, Inc. raised approximately $10.0 million in gross proceeds before deducting underwriting discounts and commissions and other offering expenses.
When did the public offering close?
The underwritten public offering closed on June 21, 2024.
What is Marpai, Inc.'s primary business address?
Marpai, Inc.'s principal executive offices are located at 615 Channelside Drive, Suite 207, Tampa, Florida 33602.
What is the intended use of the net proceeds from the offering?
Marpai intends to use the net proceeds for general corporate purposes, including working capital and potential strategic initiatives.
In which state is Marpai, Inc. incorporated?
Marpai, Inc. is incorporated in Delaware.
Filing Stats: 539 words · 2 min read · ~2 pages · Grade level 13 · Accepted 2024-06-25 16:05:15
Key Financial Figures
- $0.0001 — tered Class A Common Stock, par value $0.0001 per share MRAI OTCQX Market Indic
- $11,830,000 — s") in an aggregate principal amount of $11,830,000, for a total purchase price of $11,000,
- $11,000,000 — ,830,000, for a total purchase price of $11,000,000. The Debentures contain an optional re
- $5 million — e Debentures in an amount not to exceed $5 million within sixty (60) days of the Original
- $6,830,000 — e principal amount of the Debentures to $6,830,000. 1 SIGNATURES Pursuant to the requi
Filing Documents
- ea0208477-8k_marpai.htm (8-K) — 27KB
- 0001213900-24-055727.txt ( ) — 196KB
- mrai-20240621.xsd (EX-101.SCH) — 3KB
- mrai-20240621_lab.xml (EX-101.LAB) — 33KB
- mrai-20240621_pre.xml (EX-101.PRE) — 22KB
- ea0208477-8k_marpai_htm.xml (XML) — 4KB
01 Other Events
Item 8.01 Other Events. As previously disclosed in a Current Report on Form 8-K filed with the U.S. Securities and Exchange Commission (the "SEC") on April 17, 2024, Marpai, Inc. (the "Company") entered into a Securities Purchase Agreement (the "Purchase Agreement") with each of the purchasers that are parties thereto (each, including its successors and assigns, a "Purchaser" and collectively, the "Purchasers") and JGB Collateral LLC, a Delaware limited liability company, as collateral agent for the Purchasers. Pursuant to the Purchase Agreement, the Company agreed to sell to the Purchasers, Senior Secured Convertible Debentures (the "Debentures") in an aggregate principal amount of $11,830,000, for a total purchase price of $11,000,000. The Debentures contain an optional redemption provision allowing the Company to redeem a portion of the Debentures in an amount not to exceed $5 million within sixty (60) days of the Original Issue Date (as defined in the Debenture), provided that $5 million has remained in deposit in a certain blocked account. Effective June 21, 2024, the Company redeemed $5 million of the aggregate principal amount of the Debentures reducing the aggregate principal amount of the Debentures to $6,830,000. 1
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. MARPAI, INC. Date: June 25, 2024 By: /s/ Steve Johnson Name: Steve Johnson Title: Chief Financial Officer 2