InvestmentJul 31, 2026, 05:32 PM
Marpai Secures $12.1M Private Placement Led by Mitchell Cos.
AI Summary
Marpai, Inc. announced a private placement of newly designated convertible Series A Preferred Stock, raising approximately $12.1 million in gross proceeds. The offering, led by Mitchell Companies, involved the sale of 12,100 shares at $1,000 each, with an initial conversion price of $1.00. This investment is intended to accelerate Marpai's growth trajectory and strengthen its technology-enabled healthcare services platform. As part of the agreement, Steve Mitchell of Mitchell Companies will serve as a board observer for two years.
Key Highlights
- Secured $12,100,000 in gross proceeds from a private placement.
- Issued 12,100 shares of newly designated Series A Preferred Stock at $1,000 per share.
- Preferred Stock is convertible into Common Stock at an initial conversion price of $1.00.
- Holders of Preferred Stock will receive an 8% dividend payable in Common Stock upon liquidity event or conversion.
- Mitchell Family Trust II acted as lead investor, investing $3 million.
- Steve Mitchell of Mitchell Companies will serve as a board observer for two years.
- Company agreed to file a registration statement within 60 days of closing.
Price Impact
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