Marpai Inc MRAI shares are trading lower by 42.24% to $1.08 Monday morning after the company announced a 7.4 million share offering priced at $1.00 per share.
The offering is expected to close on April 19, subject to satisfaction of customary closing conditions.
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Marpai says the company intends to use the net proceeds from the offering for the repayment of debt relating to the company's acquisition of Maestro Health, in an amount equal to not less than 35% of the funds raised in the offering, and the remainder for general corporate purposes.
According to data from Benzinga Pro, MRAI has a 52-week high of $3.40 and a 52-week low of $0.69.
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