Marpai, Inc. announced that it has received an additional $5,000,000 in funding from JGB Collateral LLC. This capital is intended to support the company's growth initiatives and bolster its general working capital. The funding represents a second tranche of investment from JGB.
This additional investment stems from amendments made on December 30, 2024, to a previously established Securities Purchase Agreement and Senior Secured Convertible Debentures. The amendments allowed for the sale of Debentures up to an additional aggregate principal amount of $5,376,000, for a total purchase price of $5,000,000.
Of the $5,000,000 Additional Investment, $2,000,000 was delivered to Marpai at closing, with the remaining $3,000,000 held in escrow pending the satisfaction of specific terms and conditions. Notably, the conversion feature applicable to the original Debentures does not apply to the Debentures issued in connection with this Additional Investment, making this portion of the funding non-dilutive.
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