Marpai secures $1.7M revenue-based financing; amends AXA purchase deal to potentially reduce $3M obligation

Marpai, Inc.

Entered Libertas revenue-based financing: sold $2.193M future receipts for $1.7M; weekly payments over 9 months.
AXA amendment reduces 2024 payment to $473,688 and defers further payments to 2025.
Potential $3M reduction in AXA purchase price if CEO invests $3M equity, Nasdaq listing maintained, and payments made.
CEO Damien Lamendola guarantees Libertas funding; also commits to $3M equity investment in 2024.
Company expects to use Libertas proceeds for short-term working capital needs.

item 1.01 item 8.01 item 9.01

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. amended Amendment No. 1 to Purchase Agreement with AXA S.A. (effective 2024-02-07).

Action: amendment
Counterparty: AXA S.A.
Effective: 2024-02-07

Exact text from the filing

On February 7, 2024, Marpai, Inc. (the “Company”) entered into Amendment No. 1 to Purchase Agreement (the “AXA Amendment”) with AXA S.A., a French société anonyme (“AXA”).

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

Marpai, Inc. entered into Agreement of Sale of Future Receipts with Libertas Funding LLC valued at $2,193,000 (effective 2024-02-05).

Action: entry
Counterparty: Libertas Funding LLC
Value: $2,193,000
Effective: 2024-02-05

Exact text from the filing

On February 5, 2024, the Company entered into an Agreement of Sale of Future Receipts (the “Libertas Agreement”) with Libertas Funding LLC (“Libertas”) to sell future receipts totaling $2,193,000 for a purchase price of $1,700,000.

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38 material agreements filed in the last 30 days. Browse all material agreements →

Marpai, Inc. filing history →

Source: SEC EDGAR

accession 0000950170-24-012762

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