Marpai Announces Key Financial Agreements; Executes Amendment With AXA Delaying Payment Obligations And Secures $1.7M In Revenue-Based Financing From Libertas Funding, LLC
Portfolio Pulse from Benzinga Newsdesk
Marpai, Inc. (NASDAQ:MRAI) announced two key financial agreements: an amendment with AXA S.A. to delay payment obligations and secure $1.7 million in revenue-based financing from Libertas Funding, LLC. The amendment with AXA reduces the 2024 payment to $473,688 and delays further payments to 2025, with potential payment reduction criteria including maintaining NASDAQ listing. Marpai's CEO, Damien Lamendola, commits to investing $3 million in equity in 2024. The financing from Libertas, which has provided over $2.6 billion to businesses since 2016, will be used for short-term working capital needs.
February 08, 2024 | 9:15 pm
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Marpai, Inc. has secured significant financial agreements with AXA and Libertas Funding, LLC, including an amendment to delay payment obligations and $1.7 million in revenue-based financing.
The amendment with AXA and the financing from Libertas Funding provide Marpai with financial flexibility and support for its growth plans. The CEO's commitment to invest $3 million in equity further demonstrates strong confidence in the company's future, likely positively influencing investor sentiment and potentially the stock price in the short term.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100