secwatch.observer — SEC 8-K summary
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Issuer:     Spectral AI, Inc. (MDAI)
CIK:        0001833498
Form:       8-K
Filed at:   2023-12-27T23:59:59+00:00
Accession:  0001213900-23-098718
Event type: other_material
Sentiment:  neutral
Materiality: 0.65
Item codes: 1.01, 3.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1833498/000121390023098718/0001213900-23-098718-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1833498/000121390023098718/ea190752-8k_spectralai.htm
  HTML page:      https://secwatch.observer/filing/0001213900-23-098718

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