The offering involved the sale of 12,100 shares of newly designated preferred stock at $1,000 per share, with an initial conversion price set at $1.00. Under the terms of the deal, holders are entitled to an 8% dividend payable in common stock, with automatic conversion triggered by a qualified public offering or a majority vote of the preferred shareholders.

Damien Lamendola, CEO of Marpai, described the funding as a massive catalyst for the company’s strategic vision. Steve Mitchell, Chairman of Mitchell Companies, cited confidence in Marpai’s leadership team and their ability to differentiate the firm within a competitive healthcare landscape. The investment provides the necessary financial cushion to scale operations and further develop the company’s data-driven tools for self-funded employers.