Marpai, Inc. — fact timeline

Marpai, Inc. received a nasdaq deficiency notice notice regarding market value (rules 5550(b)(2), 5810(c)(3)(C)).

“May 31, 2023, Marpai, Inc. (the “Company”) received a notification letter (the “Notice”) from The Nasdaq Stock Market LLC (“Nasdaq”) advising the Companythat for the last 30 consecutive business days preceding the date of the Notice, the Company’s Market Value of Listed Securities (“MVLS”) has been below the minimum of $35,000,000 required for continued listing on Nasdaq pursuant to Nasdaq Listing Rule 5550(b)(2) (the “MVLS Requirement”). In accordance with Nasdaq Listing Rule 5810(c)(3)(C), the Company has 180 calendar days, or until November 27, 2023, to regain compliance with the MVLS Requi”

Marpai, Inc. shareholders approved Ratification of UHY LLP as independent registered public accounting firm at the 2023-05-31 meeting.

“Proposal No. 3 — Ratification of the appointment by the Audit Committee of the Board of UHY LLP, as the Company’s independent registered public accounting firm of the Company for the fiscal year ending December 31, 2023. For Against Abstain Broker Non-Votes 14,009,396 6,814 8,947 N/A”

Marpai, Inc. shareholders approved Approval of the Plan Amendment at the 2023-05-31 meeting.

“Proposal No. 2 — Approval of the Plan Amendment. For Against Abstain Broker Non-Votes 8,587,499 399,368 6,116 5,032,174”

Marpai, Inc. shareholders approved Election of Directors at the 2023-05-31 meeting.

“Proposal No. 1 — Election of Directors The stockholders elected the following individuals as directors of the Company to hold office until the next annual meeting of stockholders or until their successors shall have been duly elected and qualified. Director Name For Against Abstain Broker Non-Votes Edmundo Gonzalez 8,947,704 36,189 9,090 5,032,174 Yaron Eitan 8,717,924 260,710 14,349 5,032,174 Damien Francis Lamendola 8,945,242 38,651 9,090 5,032,174 Sagiv Shiv 8,964,493 19,341 9,149 5,032,174 Mohsen Moazami 8,427,816 551,018 14,149 5,032,174 Vincent Kane 8,430,266 546,428 16,289 5,032,174 Coleen DiClaudio 8,965,000 11,694 162,89 5,032,174”

Marpai, Inc. reported first quarter ended March 31, 2023 results: revenue approximately $9.7 million, net income approximately $8.9 million.

“all periods presented, and the results of Maestro Health, LLC (“Maestro Health”) since its acquisition on November 1, 2022. Financial Highlights • Net revenue of approximately $9.7 million for the three months ended March 31, 2023, compared to net revenue of approximately $7.6 million for the three months ended December 31, 2022, representing a sequential increase”

Marpai, Inc. entered into Underwriting Agreement with ThinkEquity LLC valued at aggregate net proceeds of approximately $6.5 million (effective 2023-04-17).

“On April 17, 2023 (the “Effective Date”), Marpai, Inc. (the “Company”) entered into an underwriting agreement (the “Underwriting Agreement”) with ThinkEquity LLC (“ThinkEquity”), as representative of the several underwriters listed on Schedule I thereto (the “Underwriters”), relating to the public offering (the “Offering”) of 7,400,000 shares (the “Shares”) of the Company’s Class A common stock, par value $0.0001 per share (the “Common Stock”), at a price to the public of $1.00 per Share (the “Offering Price”).”

Marpai, Inc. reported the fourth quarter and year ended December 31, 2022 results: revenue approximately $24.3 million, net income approximately $26.5 million.

“Net revenues for the fourth quarter of 2022 were approximately $7.6 million, compared to net revenue of approximately $4.9 million for the third quarter of 2022, representing a sequential increase of approximately $2.7 million, or 54%.”

Ronnie S. Brown resigned as Chief Operating Officer at Marpai, Inc..

“Effective February 1, 2023, Ronnie S. Brown resigned as the Chief Operating Officer of Marpai, Inc. (the “Company”).”

Gonen Antebi was appointed as Chief Operating Officer at Marpai, Inc..

“In addition, effective as of February 1, 2023, Mr. Antebi was appointed to serve as Chief Operating Officer of the Company.”

Gonen Antebi resigned as Member of the Board of Directors at Marpai, Inc..

“Effective February 1, 2023, Mr. Gonen Antebi, 51, resigned his role as member of the board of directors (the “Board”), chairman of Marpai, Inc.’s (the “Company”) Audit Committee of the Board and as a member of the Compensation Committee of the Board.”

Marpai, Inc. received a nasdaq deficiency notice notice regarding minimum bid price (rules 5550(a)(2)).

“January 11, 2023, Marpai, Inc. (the “Company”) received a notification letter (the “Notice”) from the Listing Qualifications Department of The Nasdaq Stock Market (“Nasdaq”) indicating that the Company did not satisfy the requirement for continued listing on the Nasdaq Capital Market under Nasdaq Listing Rule 5550(a)(2) (“Rule 5550(a)(2)”) to maintain a minimum bid price of $1.00 per share. The Company became deficient with Rule 5550(a)(2) as of January 11, 2023 as the closing bid price of its Class A common stock was less than $1.00 per share for 30 consecutive business days prior to the date”

Marpai, Inc. completed an acquisition involving Maestro Health, LLC for Membership Interest Purchase Agreement executed by and among the Company, X.L. America, Inc., Seaview Re Holdings Inc., and AXA S.A. (closed 2022-11-01).

“On November 1, 2022, Marpai, Inc. (the “Company”) filed a Current Report on Form 8-K (the “Initial Report”) to report the Company’s consummation of Maestro Health, LLC (“Maestro Health”), a Delaware limited liability company, pursuant to the terms of the Membership Interest Purchase Agreement executed by and among the Company, X.L. America, Inc., a Delaware corporation, Seaview Re Holdings Inc., a Delaware corporation, and AXA S.A., a French société anonyme.”

Marpai, Inc. reported third quarter ended September 30, 2022 results: revenue approximately $4.9 million, net income approximately $5.8 million (net loss).

“and the results of Marpai Administrators, LLC (formerly Continental Benefits, LLC) since its acquisition on April 1, 2021. Financial Highlights • Net revenue of approximately $4.9 million for the three months ended September 30, 2022, compared to net revenue of approximately $5.6 million for the three months ended June 30, 2022, representing a sequential decrease”

Marpai, Inc. completed an acquisition involving Maestro Health, LLC (closed 2022-10-31).

“On October 31, 2022, Marpai, Inc. (the “Company”) consummated the previously announced acquisition (the “Acquisition”) of Maestro Health, LLC (“Maestro Health”), a Delaware limited liability company, pursuant to the terms of the Membership Interest Purchase Agreement executed by and among the Company, X.L. America, Inc., a Delaware corporation, Seaview Re Holdings Inc., a Delaware corporation, and AXA S.A., a French société anonyme.”

Lutz Finger was appointed as President, Product and Development at Marpai, Inc..

“Marpai, Inc. (the “Company”) appointed Lutz Finger, 50, to serve as President, Product and Development, effective as of February 28, 2022.”