Marpai prices 7.4M share offering at $1.00 for ~$6.5M net proceeds, to repay Maestro Health debt

Marpai, Inc.

Public offering of 7,400,000 shares at $1.00/share; net proceeds ~$6.5M after underwriting discounts and expenses.
At least 35% of net proceeds to repay debt from Maestro Health acquisition; remainder for general corporate purposes.
Underwriters granted warrants to purchase 370,000 shares at $1.25/share (125% of offering price).
ThinkEquity acting as sole book-running manager; offering expected to close on April 19, 2023.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Marpai, Inc. entered into Underwriting Agreement with ThinkEquity LLC valued at aggregate net proceeds of approximately $6.5 million (effective 2023-04-17).

Action: entry
Agreement: underwriting
Counterparty: ThinkEquity LLC
Value: aggregate net proceeds of approximately $6.5 million
Effective: 2023-04-17

Exact text from the filing

On April 17, 2023 (the “Effective Date”), Marpai, Inc. (the “Company”) entered into an underwriting agreement (the “Underwriting Agreement”) with ThinkEquity LLC (“ThinkEquity”), as representative of the several underwriters listed on Schedule I thereto (the “Underwriters”), relating to the public offering (the “Offering”) of 7,400,000 shares (the “Shares”) of the Company’s Class A common stock, par value $0.0001 per share (the “Common Stock”), at a price to the public of $1.00 per Share (the “Offering Price”).

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Marpai, Inc. filing history →

Source: SEC EDGAR

accession 0000950170-23-013356

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