Marpai, Inc. (MRAI) Prices 6.25M Share IPO at $4/sh

Marpai, Inc. (Nasdaq: MRAI), a deep learning technology company transforming third party administration in the healthcare self-funded market, today announced the pricing of its initial public offering of 6,250,000 shares of its common stock at a public offering price of $4.00 per share, for gross proceeds of $25 million, before deducting underwriting discounts and offering expenses. In addition, the Company has granted the underwriters a 45-day option to purchase up to an additional 937,500 shares of common stock to cover over-allotments at the initial public offering price, less the underwriting discount. All of the shares of common stock are being offered by the Company.

The shares are expected to begin trading on the Nasdaq Capital Market on October 27, 2021 under the symbol “MRAI.” The offering is expected to close on October 29, 2021, subject to satisfaction of customary closing conditions.

ThinkEquity is acting as sole book-running manager for the offering.

A registration statement on Form S-1 (File No. 333-258029) relating to the shares was filed with the Securities and Exchange Commission (“SEC”) and became effective on October 26, 2021. This offering is being made only by means of a prospectus. Copies of the final prospectus, when available, may be obtained from ThinkEquity, 17 State Street, 22nd Floor, New York, New York 10004, by telephone at (877) 436-3673, by email at [email protected]. The final prospectus will be filed with the SEC and will be available on the SEC’s website located at http://www.sec.gov.

This press release shall not constitute an offer to sell or a solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

You May Also Be Interested In

• Adia Med hires law firm for planned Nasdaq uplisting
• Descartes acquires Tai Software for $100M to expand freight tools
• Precision BioSciences doses first patient in DMD gene-editing trial