---
schema_version: "secwatch.filing_event.v1"
accession: "0000950170-24-045089"
form_type: "8-K"
ticker: "MRAI"
cik: "0001844392"
company_name: "Marpai, Inc."
filed_at: "2024-04-17T23:59:59+00:00"
generated_at: "2026-06-03T21:49:22.846818+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# Marpai issues $11.83M convertible debentures; net proceeds $11M; conversion $3.00/share

## Summary
- Aggregate principal $11.83M; purchase price $11M; OID of $830,000.
- Interest at prime + 5.75%; monthly principal payments of $140k from Oct 2024; maturity Apr 2027.
- Convertible at $3.00/share; anti-dilution floor at $2.23 (closing price on Apr 12, 2024).
- Secured by first-priority liens on assets; guarantees from CEO Damien Lamendola and Hillcour Holding.
- Registration required by May 30, 2024; liquidated damages for delay.

## SEC filing metadata
- accession: 0000950170-24-045089
- form_type: 8-K
- ticker: MRAI
- cik: 0001844392
- company_name: Marpai, Inc.
- filed_at: 2024-04-17T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 1.01, 2.03, 3.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1844392/000095017024045089/0000950170-24-045089-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1844392/000095017024045089/mrai-20240415.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000950170-24-045089
- JSON: https://secwatch.observer/filing/0000950170-24-045089.json
- Plain text: https://secwatch.observer/filing/0000950170-24-045089.txt

## Key facts
- Debt Financings
  Marpai, Inc. incurred convertible notes of $11,830,000 with JGB Collateral LLC, as collateral agent at prime interest rate plus 5.75% per annum maturing April 15, 2027.
  - Instrument: convertible notes
  - Principal: $11,830,000
  - Counterparty: JGB Collateral LLC, as collateral agent
  - Rate: prime interest rate plus 5.75% per annum
  - Maturity: April 15, 2027
  - Event: incurrence
  source text: the Company agreed to sell to the Purchasers Senior Secured Convertible Debentures (the “Debentures”) in an aggregate principal amount of $11,830,000
  evidence_url: https://www.sec.gov/Archives/edgar/data/1844392/000095017024045089/0000950170-24-045089-index.htm
- Material Agreements
  Marpai, Inc. entered into Securities Purchase Agreement with the Purchasers valued at $11,830,000 (effective 2024-04-15).
  - Action: entry
  - Agreement: notes offering
  - Counterparty: the Purchasers
  - Value: $11,830,000
  - Effective: 2024-04-15
  source text: On April 15, 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 (the “Agent”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/1844392/000095017024045089/0000950170-24-045089-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.