MARPAI ANNOUNCES SECOND TRANCHE OF NON-DILUTIVE GROWTH FUNDING WITH UP TO $5 MILLION FROM JGB

Company Overview - Marpai, Inc. operates as a national Third-Party Administrator (TPA) in the $22 billion TPA market, focusing on affordable healthcare solutions for self-funded employer health plans [1][6] - The company aims to transform the TPA market by providing intelligent healthcare solutions and has a significant presence in managing over $1 trillion in annual claims [6] Recent Funding - Marpai announced an additional funding of $5,000,000 from JGB Collateral LLC, intended for growth initiatives and general working capital [1][5] - The company previously entered into a Securities Purchase Agreement to sell Senior Secured Convertible Debentures totaling $11,830,000 for a purchase price of $11,000,000 [2] - Amendments to the Purchase Agreement allowed for an additional $5,376,000 in Debentures, with $2,000,000 already delivered and $3,000,000 held in escrow pending certain conditions [3][4] Management Commentary - The CEO of Marpai expressed satisfaction with the ongoing relationship with JGB and emphasized that the proceeds will support growth initiatives and enhance working capital [5]