secwatch.observer — SEC 8-K summary
======================================

Issuer:     Spectral AI, Inc. (MDAI)
CIK:        0001833498
Form:       8-K
Filed at:   2025-03-26T23:59:59+00:00
Accession:  0001013762-25-002818
Event type: debt
Sentiment:  positive
Materiality: 0.75
Item codes: 1.01, 2.03, 3.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Spectral AI closes $15M debt facility with $2.7M equity raise; $14M cash for DeepView launch
--------------------------------------------------------------------------------

- Debt financing of up to $15M from Avenue Capital Group; initial draw $8.5M, maturity March 2028, interest-only for 15 months.
- Equity offering of 2,076,923 shares at $1.30/share plus warrants at $1.80; gross proceeds $2.7M.
- Second tranche of $6.5M debt contingent on FDA clearance of DeepView System plus $7M equity raise.
- Company has over $14M cash on hand; no additional stock sales for 180 days.
- Placement agents: SP Angel (UK) and Dominari Securities (US).

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1833498/000101376225002818/0001013762-25-002818-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1833498/000101376225002818/ea0235766-8k_spectral.htm
  HTML page:      https://secwatch.observer/filing/0001013762-25-002818

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