MARPAI ANNOUNCES SECOND TRANCHE OF NON-DILUTIVE GROWTH FUNDING WITH UP TO $5 MILLION FROM JGB
Marpai (OTCQX: MRAI), a technology platform company operating as a national Third-Party Administrator (TPA), has secured an additional $5 million in non-dilutive funding from JGB Collateral This follows their previous agreement from April 16, 2024, where they sold Senior Secured Convertible Debentures worth $11.83 million for $11 million.
Of the new $5 million funding, $2 million was delivered at closing, with the remaining $3 million held in escrow pending certain conditions. Unlike the original investment, the conversion feature does not apply to these new debentures. The company plans to use the proceeds for growth initiatives and working capital. ThinkEquity served as an advisor for this financing.
Marpai (OTCQX: MRAI), una società tecnologica che opera come Amministratore Terzo Nazionale (TPA), ha ottenuto ulteriori 5 milioni di dollari in finanziamenti non diluitivi da JGB Collateral. Questo segue l'accordo precedente del 16 aprile 2024, in cui hanno venduto Debenture Convertibili Senior Garantiti per un valore di 11,83 milioni di dollari a 11 milioni.
Dei nuovi 5 milioni di dollari, 2 milioni sono stati consegnati al momento della chiusura, mentre i restanti 3 milioni sono stati trattenuti in escrow in attesa di determinate condizioni. A differenza dell'investimento originale, la funzione di conversione non si applica a queste nuove debenture. L'azienda prevede di utilizzare i proventi per iniziative di crescita e capitale circolante. ThinkEquity ha svolto il ruolo di consulente per questo finanziamento.
Marpai (OTCQX: MRAI), una empresa de plataforma tecnológica que opera como Administrador Tercero Nacional (TPA), ha asegurado 5 millones de dólares adicionales en financiamiento no dilutivo de JGB Collateral. Esto sigue a su acuerdo previo del 16 de abril de 2024, donde vendieron Bonos Convertibles Garantizados Senior por un valor de 11,83 millones de dólares, por 11 millones.
De los nuevos 5 millones de dólares, 2 millones se entregaron al cierre, con los 3 millones restantes retenidos en depósito a la espera de ciertas condiciones. A diferencia de la inversión original, la opción de conversión no se aplica a estos nuevos bonos. La empresa planea usar los fondos para iniciativas de crecimiento y capital de trabajo. ThinkEquity actuó como asesor para este financiamiento.
Marpai (OTCQX: MRAI), 국가 제3자 관리자(TPA)로 운영되는 기술 플랫폼 회사가 JGB Collateral로부터 5백만 달러의 비 희석 자금을 추가로 확보했습니다. 이는 2024년 4월 16일에 체결된 이전 계약에 따라 1183만 달러 가치의 선순위 전환 채권을 1100만 달러에 판매한 것에 따른 것입니다.
새로운 5백만 달러의 자금 중에서 200만 달러가 거래 종료 시 제공되었습니다, 나머지 300만 달러는 특정 조건을 충족할 때까지 에스크로에 보관됩니다. 원래 투자와는 달리 이 새로운 채권에는 전환 기능이 적용되지 않습니다. 회사는 수익의 대부분을 성장 이니셔티브와 운영 자본에 사용할 계획입니다. ThinkEquity는 이 금융 거래의 자문 역할을 수행했습니다.
Marpai (OTCQX: MRAI), une entreprise de plateforme technologique agissant en tant qu'Administrateur Tiers National (TPA), a obtenu 5 millions de dollars supplémentaires en financement non dilutif de la part de JGB Collateral. Cela fait suite à leur précédent accord du 16 avril 2024, où ils ont vendu des Obligations Convertibles Senior Garantie d'une valeur de 11,83 millions de dollars pour 11 millions.
Sur les nouveaux 5 millions de dollars, 2 millions ont été livrés à la clôture, les 3 millions restants étant retenus en séquestre en attendant certaines conditions. Contrairement à l'investissement initial, la possibilité de conversion ne s'applique pas à ces nouvelles obligations. La société prévoit d'utiliser les revenus pour des initiatives de croissance et du fonds de roulement. ThinkEquity a servi de conseiller pour ce financement.
Marpai (OTCQX: MRAI), ein Technologieplattformunternehmen, das als nationaler Dritter Verwalter (TPA) tätig ist, hat zusätzlich 5 Millionen Dollar an nicht verwässernder Finanzierung von JGB Collateral gesichert. Dies folgt auf ihre bisherige Vereinbarung vom 16. April 2024, in der sie Senior Secured Convertible Debentures im Wert von 11,83 Millionen Dollar für 11 Millionen Dollar verkauft haben.
Von der neuen Finanzierung in Höhe von 5 Millionen Dollar wurden 2 Millionen Dollar bei Abschluss bereitgestellt, während die verbleibenden 3 Millionen Dollar in Escrow gehalten werden, während bestimmte Bedingungen erfüllt werden. Im Gegensatz zur ursprünglichen Investition findet die Wandlungsfähigkeit bei diesen neuen Debentures keine Anwendung. Das Unternehmen plant, die Erlöse für Wachstumsinitiativen und Betriebskapital zu verwenden. ThinkEquity diente als Berater für diese Finanzierung.
- Secured additional $5 million in non-dilutive growth funding
- Immediate access to $2 million at closing
- Additional $3 million available upon meeting conditions
- Increased debt burden with new $5.376 million in debentures
- Access to $3 million portion contingent on meeting specific conditions
As previously announced on April 16, 2024, the Company entered into a Securities Purchase Agreement (the "Purchase Agreement") with each of the purchasers that are parties thereto (each, including its successors and assigns, a "Purchaser" and collectively, the "Purchasers") and JGB, as collateral agent for the Purchasers, pursuant to which the Company agreed to sell to the Purchasers Senior Secured Convertible Debentures (the "Debentures") in the aggregate principal amount of
On December 30, 2024, the Company, the Purchasers and JGB entered into amendments to the Purchase Agreement (the "Amendment Agreement") and the Debentures (each, a "Debenture Amendment" and collectively, the "Debenture Amendments"), with the Purchasers, the Agent and the other parties party thereto, as applicable, in order to, among other things, sell Debentures up to an additional aggregate principal amount of
The conversion feature of the Debentures applicable to the Original Investment does not apply to the Debentures issued in connection with the Additional Investment. The Amendment Agreement and the Debenture Amendments contain customary representations, warranties and covenants, as applicable.
ThinkEquity LLC served as an advisor to the Company on this financing.
"We are very pleased to continue our relationship with JGB. The proceeds from the sale will be used to fund several of our ongoing growth initiatives and support a strong working capital footprint," said Damien Lamendola, Chief Executive Officer of Marpai.
About Marpai, Inc.
Marpai, Inc. (OTCQX: MRAI) is a technology platform company which operates subsidiaries that provide TPA and value-oriented health plan services to employers that directly pay for employee health benefits. Primarily competing in the
Forward-Looking Statement Disclaimer
This press release contains forward-looking statements, as that term is defined in the Private Litigation Reform Act of 1995, that involve significant risks and uncertainties. Forward-looking statements can be identified through the use of words such as "anticipates," "expects," "intends," "plans," "believes," "seeks," "estimates," "guidance," "may," "can," "could", "will", "potential", "should," "goal" and variations of these words or similar expressions. For example, the Company is using forward looking statements when it discusses the potential proceeds from the sale of the Debentures, the intended use of proceeds and that the remaining
More detailed information about Marpai and the risk factors that may affect the realization of forward-looking statements is set forth in Marpai's filings with the Securities and Exchange Commission. Investors and security holders are urged to read these documents free of charge on the SEC's web site at http://www.sec.gov.
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SOURCE Marpai
FAQ
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