Marpai, Inc. announced the pricing of a private placement offering, which involves the issuance and sale of 621,194 shares of its Class A common stock. The shares were priced at $1.13 per share, resulting in aggregate gross proceeds of $701,950. The offering included participation from an institutional fund and certain officers and directors of the company.
The closing of this private placement is expected to occur on or before December 6, 2024. Marpai stated its intention to use the net proceeds from this offering for general working capital purposes. This capital infusion is aimed at supporting the company's ongoing operations.
The securities issued in this offering are exempt from the registration requirements of the Securities Act of 1933. This financing event provides additional liquidity for Marpai as it continues its operational turnaround and growth initiatives.
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