---
schema_version: "secwatch.filing_event.v1"
accession: "0001213900-23-098718"
form_type: "8-K"
ticker: "MDAI"
cik: "0001833498"
company_name: "Spectral AI, Inc."
filed_at: "2023-12-27T23:59:59+00:00"
generated_at: "2026-06-07T07:01:52.437037+00:00"
event_type: "other_material"
sentiment: "neutral"
materiality_score: 0.65
calibrated_materiality_score: 0.65
confidence: "high"
source: SEC EDGAR
---

# Spectral AI enters $10M equity purchase agreement with B. Riley

## Summary
- Company can sell up to $10M of common stock to B. Riley at its discretion over 24 months.
- Purchase price set at 3.5% discount to VWAP during purchase valuation period.
- Issued 40,000 commitment shares valued at $2.50 each and agreed to $75K cash commitment fee.
- Stock issuance capped at 19.99% of outstanding (3,249,360 shares) unless stockholder approval or price condition met.
- B. Riley prohibited from short selling or hedging during agreement term.

## SEC filing metadata
- accession: 0001213900-23-098718
- form_type: 8-K
- ticker: MDAI
- cik: 0001833498
- company_name: Spectral AI, Inc.
- filed_at: 2023-12-27T23:59:59+00:00
- event_type: other_material
- sentiment: neutral
- materiality_score: 0.65
- calibrated_materiality_score: 0.65
- confidence: high
- sec_items: 1.01, 3.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1833498/000121390023098718/0001213900-23-098718-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1833498/000121390023098718/ea190752-8k_spectralai.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001213900-23-098718
- JSON: https://secwatch.observer/filing/0001213900-23-098718.json
- Plain text: https://secwatch.observer/filing/0001213900-23-098718.txt

## Key facts
- Material Agreements
  Spectral AI, Inc. entered into Common Stock Purchase Agreement with B. Riley Principal Capital II, LLC valued at up to $10,000,000 in aggregate gross purchase price (effective 2023-12-26).
  - Action: entry
  - Agreement: equity purchase
  - Counterparty: B. Riley Principal Capital II, LLC
  - Value: up to $10,000,000 in aggregate gross purchase price
  - Effective: 2023-12-26
  source text: Spectral AI, Inc. (the “ Company ”) entered into a Common Stock Purchase Agreement (the “ Purchase Agreement ”) and a related Registration Rights Agreement (the “ Registration Rights Agreement ”), each dated as of December 26, 2023, with B. Riley Principal Capital II, LLC (“ B. Riley Principal Capital II ”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/1833498/000121390023098718/0001213900-23-098718-index.htm

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