Marpai (OTCQX: MRAI) sells shares and warrants in $350,000 private deal

Rhea-AI Filing Summary

Marpai, Inc. disclosed that it entered into a Securities Purchase Agreement with certain investors to raise approximately $350,000 in a private placement. The Company agreed to issue and sell 350,000 shares of Class A common stock together with warrants to purchase up to 700,000 additional shares of common stock, at a combined purchase price of $1.00 per share and accompanying warrant.

The common warrants have an exercise price of $1.00 per share, are exercisable immediately after closing, and remain exercisable for three years from issuance, with customary anti-dilution provisions. Marpai plans to use the proceeds for working capital and general corporate purposes, and granted investors a six‑month right to include the shares and warrant shares in any other registration of securities it files, subject to limited exceptions.

Insights

Capital markets and corporate finance analyst

Marpai completes a small equity-and-warrant financing on standard private placement terms.

Marpai, Inc. entered into a Securities Purchase Agreement to sell 350,000 shares of Class A common stock and issue warrants for up to 700,000 shares at a combined price of $1.00 per share plus warrant. This results in expected gross proceeds of about $350,000, which the company plans to use for working capital and general corporate purposes.

The common warrants are immediately exercisable at $1.00 per share and have a three‑year term, with customary anti‑dilution features that adjust for future corporate actions. Because the securities are issued in a private placement under Section 4(a)(2) and Rule 506(b), they are unregistered and subject to resale restrictions under U.S. securities laws.

Investors receive a six‑month right to have the common shares and warrant shares included in any other registration the company files, excluding certain transactions under Rule 145(a). Actual dilution and future cash inflows from warrant exercises will depend on whether investors choose to exercise their warrants and any later registration activity the company undertakes.

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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): December 22, 2025

MARPAI, INC.

(Exact name of Registrant as Specified in Its Charter)

Delaware		001-40904		86-1916231
(State or Other Jurisdiction of Incorporation)		(Commission File Number)		(IRS Employer Identification No.)

615 Channelside Drive, Suite 207
Tampa, Florida		33602
(Address of Principal Executive Offices)		(Zip Code)

Registrant’s Telephone Number, Including Area Code: (855) 389-7330

(Former Name or Former Address, if Changed Since Last Report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class		Trading Symbol(s)		Name of each exchange on which registered
Class A Common Stock, par value $0.0001 per share		MRAI		OTCQX Market

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter).

Emerging growth company ☒

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 1.01 Entry into a Material Definitive Agreement.

On December 22, 2025, Marpai Inc. (the “Company”) entered into a Securities Purchase Agreement (the “Securities Purchase Agreement”) with certain investors, pursuant to which the Company agreed to issue and sell an aggregate of: (i) 350,000 shares of its Class A common stock, par value $0.0001 per share (the “Common Stock”), and (ii) warrants (the “Common Warrants”) to purchase up to 700,000 shares of Common Stock in a private placement. The purchase price for each share of Common Stock and accompanying Common Warrant is $1.00.

The Common Warrants have an exercise price of $1.00 per share, can be exercised immediately following the closing of the private placement offering and will be exercisable for three years following the date of issuance. The Common Warrants contain customary anti-dilution provisions. The Company also agreed to grant the Purchasers the right for a period of six (6) months from the date of the Securities Purchase Agreement to include all of the Common Shares and Common Warrant Shares as part of any other registration of securities filed by the Company (other than in connection with a transaction contemplated by Rule 145(a)).

The gross proceeds to the Company from the offering are expected to be approximately $350,000. The Company intends to use the proceeds from the Offering for working capital and general corporate purposes. The offering is expected to close on or about December 22, 2025, subject to the satisfaction of customary closing conditions.

The securities issued in the offering are exempt from the registration requirements of the Securities Act of 1933, as amended (the “Securities Act”) pursuant to Section 4(a)(2) of the Securities Act and/or Rule 506(b) of Regulation D promulgated thereunder. The securities have not been registered under the Securities Act and may not be sold in the United States absent registration or an exemption from registration.

This Current Report on Form 8-K shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

The foregoing description of the terms of the Securities Purchase Agreement and the Common Warrants are not intended to be complete and are qualified in their entirety by reference to the Securities Purchase Agreement and Form of Common Warrants, copies of which are attached hereto as Exhibits 4.1 and 10.1, respectively, and incorporated herein by reference.

Item 3.02 Unregistered Sales of Equity Securities.

The response to this item is included in Item 1.01, Entry into a Material Definitive Agreement, and is incorporated herein in its entirety.

Item 9.01 Financial Statements and Exhibits.

(d) Exhibits

Exhibit Number		Description
4.1		Form of Common Warrant
10.1		Form of Securities Purchase Agreement
104		Cover Page Interactive Data File (formatted as inline XBRL and contained in Exhibit 101)

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SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

	MARPAI, INC.
Date: December 22, 2025	By:	/s/ Damien Lamendola
		Name:	Damien Lamendola
		Title:	Chief Executive Officer

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FAQ

What financing transaction did Marpai, Inc. (MRAI) report?

Marpai, Inc. reported that it entered into a Securities Purchase Agreement with certain investors for a private placement of 350,000 shares of Class A common stock and warrants to purchase up to 700,000 shares of common stock.

How much capital is Marpai, Inc. (MRAI) raising in this private placement?

The private placement is expected to generate gross proceeds of approximately $350,000, based on a purchase price of $1.00 for each share of common stock and accompanying warrant.

What are the key terms of the Marpai, Inc. (MRAI) common warrants?

The common warrants have an exercise price of $1.00 per share, are exercisable immediately after closing, and remain exercisable for three years from the date of issuance, with customary anti‑dilution provisions.

How does Marpai, Inc. (MRAI) plan to use the offering proceeds?

Marpai, Inc. intends to use the approximately $350,000 of gross proceeds from the offering for working capital and general corporate purposes.

Are the Marpai, Inc. (MRAI) securities registered with the SEC?

No. The common stock and warrants are being issued in a private placement exempt from registration under the Securities Act pursuant to Section 4(a)(2) and/or Rule 506(b), and may not be sold in the United States absent registration or an applicable exemption.

Do investors in this Marpai, Inc. (MRAI) private placement receive any registration rights?

Yes. For six months from the date of the Securities Purchase Agreement, investors have the right to include the common shares and warrant shares in any other registration of securities that Marpai files, other than in a transaction under Rule 145(a).