secwatch.observer — SEC 8-K summary
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Issuer:     Marpai, Inc. (MRAI)
CIK:        0001844392
Form:       8-K
Filed at:   2024-04-17T23:59:59+00:00
Accession:  0000950170-24-045089
Event type: debt
Sentiment:  neutral
Materiality: 0.70
Item codes: 1.01, 2.03, 3.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1844392/000095017024045089/0000950170-24-045089-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1844392/000095017024045089/mrai-20240415.htm
  HTML page:      https://secwatch.observer/filing/0000950170-24-045089

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer