{"schema_version":"secwatch.filing_event.v1","accession":"0001213900-24-025128","form_type":"8-K","ticker":"MDAI","cik":"0001833498","company_name":"Spectral AI, Inc.","filed_at":"2024-03-22T23:59:59+00:00","discovered_at":"2026-05-14T18:03:25.846647+00:00","generated_at":"2026-06-04T09:12:18.083892+00:00","sec_items":["1.01","2.03","3.02","7.01","9.01"],"event_type":"debt","sentiment":"neutral","materiality_score":0.75,"calibrated_materiality_score":0.75,"confidence":"high","headline":"Spectral AI enters $30M standby equity purchase agreement with Yorkville, gets $5M note","bullets":["Company may sell up to $30M of common stock to Yorkville at 97% of lowest 3-day VWAP.","Yorkville provides up to $12.5M in convertible notes; first $5M tranche funded at $3.16/share fixed conversion.","Second $5M tranche due after SEC registration effectiveness or shareholder approval; third $2.5M 60 days later.","Convertible notes bear 0% interest (18% default), mature in 12 mo; variable conversion at 85% of VWAP, floor $0.47.","Commitment fees: $25k due diligence, 94,937 shares, plus $75k at six-month anniversary."],"urls":{"canonical":"https://secwatch.observer/filing/0001213900-24-025128","json":"https://secwatch.observer/filing/0001213900-24-025128.json","markdown":"https://secwatch.observer/filing/0001213900-24-025128.md","text":"https://secwatch.observer/filing/0001213900-24-025128.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1833498/000121390024025128/0001213900-24-025128-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1833498/000121390024025128/ea0202312-8k_spectra.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-06-04T09:12:18.083892+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[{"claim_id":"d6f6b842e3401d634c04602fb703fd8bf10ccaf8","claim":"Spectral AI, Inc. incurred convertible notes of $5.0 million with YA II PN, LTD at 0% maturing 12 months after the issuance date.","evidence_excerpt":"ith YA II PN, LTD, a Cayman Islands exempt limited partnership (“ Yorkville ”) pursuant to which the Company","evidence_source":"SEC 8-K Item 2.03/2.04","evidence_url":"https://www.sec.gov/Archives/edgar/data/1833498/000121390024025128/0001213900-24-025128-index.htm","confidence":0.9,"family_label":"Debt Financings","details":[{"label":"Instrument","value":"convertible notes"},{"label":"Principal","value":"$5.0 million"},{"label":"Counterparty","value":"YA II PN, LTD"},{"label":"Rate","value":"0%"},{"label":"Maturity","value":"12 months after the issuance date"},{"label":"Event","value":"incurrence"}],"fact_type":"debt_financing"},{"claim_id":"f60307785d41546d649e49ec1ae052c474f084c7","claim":"Spectral AI, Inc. entered into Standby Equity Purchase Agreement with YA II PN, LTD valued at up to $30.0 million (effective 2024-03-20).","evidence_excerpt":"On March 20, 2024, Spectral AI, Inc. (the “ Company ”) entered into the Standby Equity Purchase Agreement (“ SEPA ”) with YA II PN, LTD, a Cayman Islands exempt limited partnership (“ Yorkville ”) pursuant to which the Company has the right to sell to Yorkville up to $30.0 million of its shares of common stock","evidence_source":"SEC 8-K Item 1.01/1.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/1833498/000121390024025128/0001213900-24-025128-index.htm","confidence":0.9,"family_label":"Material Agreements","details":[{"label":"Action","value":"entry"},{"label":"Agreement","value":"equity purchase"},{"label":"Counterparty","value":"YA II PN, LTD"},{"label":"Value","value":"up to $30.0 million"},{"label":"Effective","value":"2024-03-20"}],"fact_type":"material_agreement"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}