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Marpai | 8-K: Current report

SEC announcement ·  Feb 8 16:25
Summary by Moomoo AI
On February 7, 2024, Marpai, Inc., a leading national Third-Party Administration (TPA) company, amended its existing agreement with AXA S.A., reducing the payment obligations by $3 million under certain conditions, including a $3 million equity contribution from its largest shareholder, maintaining a Nasdaq listing, and making timely payments between February 29 and April 15, 2024. Additionally, Marpai entered into a revenue-based financing agreement with Libertas Funding LLC on February 5, 2024, securing $1.7 million for short-term working capital needs by selling future receipts totaling $2,193,000. The CEO of Marpai, Damien Lamendola, guaranteed the Libertas agreement. These financial moves are aimed at supporting Marpai's growth and operational plans without diluting shareholder value. The company issued a press release on February 8, 2024, detailing these key financial agreements.
On February 7, 2024, Marpai, Inc., a leading national Third-Party Administration (TPA) company, amended its existing agreement with AXA S.A., reducing the payment obligations by $3 million under certain conditions, including a $3 million equity contribution from its largest shareholder, maintaining a Nasdaq listing, and making timely payments between February 29 and April 15, 2024. Additionally, Marpai entered into a revenue-based financing agreement with Libertas Funding LLC on February 5, 2024, securing $1.7 million for short-term working capital needs by selling future receipts totaling $2,193,000. The CEO of Marpai, Damien Lamendola, guaranteed the Libertas agreement. These financial moves are aimed at supporting Marpai's growth and operational plans without diluting shareholder value. The company issued a press release on February 8, 2024, detailing these key financial agreements.
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