Marpai Adjusts AXA Deal Terms, Sells Future Receipts

Marpai (MRAI) has released an update to notify the public and investors about an entry into a material definitive agreement.

Marpai, Inc. has renegotiated its purchase agreement with AXA S.A., adjusting the purchase price down by $3 million contingent on certain financial criteria being met by the company, including a significant shareholder equity contribution, maintaining stock exchange listings, and meeting payment deadlines. Additionally, Marpai signed a deal with Libertas Funding LLC to sell $2.193 million in future receipts for $1.7 million, with terms including an early delivery discount and an origination fee, backed by a personal guarantee from CEO Damien Lamendola.

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For a comprehensive understanding of the announcement, you can read the full document here.