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

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TAMPA, Fla., Jan. 6, 2025 /PRNewswire/ — Marpai, Inc. (“Marpai” or the “Company”) (OTCQX: MRAI), a technology platform company, which operates as a national Third-Party Administrator (TPA) through its subsidiaries and is transforming the $22 billion TPA market by offering affordable, intelligent, healthcare solutions to self-funded employer health plans, today announced the funding of an additional $5,000,000 from JGB Collateral LLC, a Delaware limited liability company (“JGB”).The company intends to use the net proceeds from the offering for growth initiatives and general working capital.

As previously announced on April 16, 2024, the Company entered into a Securities Purchase Agreement (the “Purchase Agreement”) with each of the purchasers that are parties thereto (each, including its successors and assigns, a “Purchaser” and collectively, the “Purchasers”) and JGB, as collateral agent for the Purchasers, pursuant to which the Company agreed to sell to the Purchasers Senior Secured Convertible Debentures (the “Debentures”) in the aggregate principal amount of $11,830,000, for a total purchase price of $11,000,000 (the “Original Investment”). 

On December 30, 2024, the Company, the Purchasers and JGB entered into amendments to the Purchase Agreement (the “Amendment Agreement”) and the Debentures (each, a “Debenture Amendment” and collectively, the “Debenture Amendments”), with the Purchasers, the Agent and the other parties party thereto, as applicable, in order to, among other things, sell Debentures up to an additional aggregate principal amount of $5,376,000, for a total purchase price of $5,000,000 (the “Additional Investment”). Pursuant to the terms of the Amendment Agreement and the Debenture Amendments, $2,000,000 of the Additional Investment was delivered to the Company at closing, and the remaining $3,000,000 of the Additional Investment is being held in escrow pending satisfaction of certain terms and conditions specified in the Amendment Agreement and the Debenture Amendments. 

The conversion feature of the Debentures applicable to the Original Investment does not apply to the Debentures issued in connection with the Additional Investment. The Amendment Agreement and the Debenture Amendments contain customary representations, warranties and covenants, as applicable.

ThinkEquity LLC served as an advisor to the Company on this financing.

“We are very pleased to continue our relationship with JGB. The proceeds from the sale will be used to fund several of our ongoing growth initiatives and support a strong working capital footprint,” said Damien Lamendola, Chief Executive Officer of Marpai.

About Marpai, Inc.

Marpai, Inc. (OTCQX: MRAI) is a technology platform company which operates subsidiaries that provide TPA and value-oriented health plan services to employers that directly pay for employee health benefits. Primarily competing in the $22 billion TPA sector serving self-funded employer health plans representing over $1 trillion in annual claims. Through its Marpai Saves initiative, the Company works to deliver the healthiest member population for the health plan budget. Operating nationwide, Marpai offers access to leading provider networks including Aetna and Cigna and all TPA services. For more information, visit www.marpaihealth.com , the content of which is not incorporated by reference into this press release. Investors are invited to visit https://www.ir.marpaihealth.com.

Forward-Looking Statement Disclaimer

This press release contains forward-looking statements, as that term is defined in the Private Litigation Reform Act of 1995, that involve significant risks and uncertainties. Forward-looking statements can be identified through the use of words such as “anticipates,” “expects,” “intends,” “plans,” “believes,” “seeks,” “estimates,” “guidance,” “may,” “can,” “could”, “will”, “potential”, “should,” “goal” and variations of these words or similar expressions. For example, the Company is using forward looking statements when it discusses the potential proceeds from the sale of the Debentures, the intended use of proceeds and that the remaining $3,000,000 of the Additional Investment which is being held in escrow will be released upon satisfaction of certain terms and conditions specified in the Amendment Agreement and the Debenture Amendments. . Readers are cautioned not to place undue reliance on these forward-looking statements, which reflect Marpai’s current expectations and speak only as of the date of this release. Actual results may differ materially from Marpai’s current expectations depending upon a number of factors. These factors include, among others, adverse changes in general economic and market conditions, competitive factors including but not limited to pricing pressures and new product introductions, uncertainty of customer acceptance of new product offerings and market changes, risks associated with managing the growth of the business. Except as required by law, Marpai does not undertake any responsibility to revise or update any forward-looking statements whether as a result of new information, future events or otherwise.

More detailed information about Marpai and the risk factors that may affect the realization of forward-looking statements is set forth in Marpai’s filings with the Securities and Exchange Commission. Investors and security holders are urged to read these documents free of charge on the SEC’s web site at http://www.sec.gov.

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SOURCE Marpai

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Promise Exchange Program Debuts at CES in Las Vegas Showcasing 7 Tunisian Startups

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January 8, 2025

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The U.S.-funded initiative connects Tunisian entrepreneurs with U.S. and global startup communities

Explore Tunisia’s burgeoning startup ecosystem, visit with Tunisia’s Ambassador to the US, and connect with global innovators at CES January 7-10 Las Vegas, NV at the Venetian Expo Hall, Booth 50025

LAS VEGAS, Jan. 7, 2025 /PRNewswire/ — The Promise Project, a U.S.-funded initiative to strengthen Tunisia’s entrepreneurial ecosystem, is bringing Tunisian innovation talent and startups to CES 2025 for the first time, aiming to connect Tunisian entrepreneurs with the U.S. and global startup communities.

Organized by the Tunisian American Young Professionals (TAYP), the booth will feature cutting-edge innovations from Tunisian startups in sectors such as AgTech, Energy, Robotics, Smart Cities, and Food Tech. The exhibit will spotlight Tunisia’s dynamic startup ecosystem with special guests and live demonstrations throughout the CES event.

Additionally, the program will welcome Hanène Tajouri Bessassi, the Tunisian Ambassador to the U.S. and CES along with representatives from CONECT and the French delegation from CPME (more details below).

The Promise Exchange Program is a U.S.-funded initiative in partnership with the U.S. State Department, Tunisian American Young Professionals and implemented by Deloitte.

Special Guests & In-Booth Event

Innovate Together – Building Bridges Worldwide with special guest, Hanène Tajouri Bessassi, Tunisian Ambassador to the U.S.
Hanène Tajouri Bessassi, the Tunisian Ambassador to the U.S. will be visiting the Tunisian booth at CES along with representatives from CONECT and the French delegation from CPME. 

Featured Speakers:

Mrs. Hanene Tajouri Bessassi, Ambassador of Tunisia to Washington DCHE Mrs. Nejia Gharbi,General Director of ” la Caisse des Dépôts et Consignations” – CDCMr. Tarak Triki, Managing Director Smart Capital

Date: Tues., January 7th at 3:00 – 4:00 PM
Location: Venetian Expo, Level 2, Halls A-D, Tunisian Booth # 50025

Featured Startups
The Tunisian Companies featured at Booth 50025 (in alphabetical order):

AquaDeep | AgTech
AquaDeep is revolutionizing fish farming with AI-powered counting solutions and IoT-based data extraction tools. Our modular services support aquacultures at every stage, enhancing control and efficiency.

DeepVolt | Energy
DeepVolt develops AI solutions for E-Mobility. Our flagship product, DeepVolt Location Intelligence Assistant (DLIA), enables cities and businesses to identify profitable locations for EV charging stations in minutes.

OORB (Open Organic Robotics) | Robotics OORB (Open Organic Robotics) is a young Tunisian startup featuring the OORB framework, the Robodog quadruped educational kit, and the OORB Studio & community. Our open-source framework, built on ROS with AI at its core, offers cloud-based tools for robotics development, including AI-driven code generation, CAD design, and real-time collaboration.

Smart For Green | AgTech
Our aim is to protect at-risk forests, farms and factories from the threat of fire. Our fire protection solution for farms, forests and factories is based on a multidimensional approach: predicting risks, detecting them in time and assisting response teams.

SPIRAW | Food Tech SPIRAW combines biotechnology and IoT to offer a home-based solution for growing fresh, high-quality spirulina. Inspired by Nespresso, our innovative machine automates cultivation, paired with a mobile app for monitoring, recipes, and eco-impact tracking.

Wayout  | Smart Cities Wayout’s mission is to eliminate marine pollution and reduce floodings through sustainable solutions to the infrastructure. Our first product launched is Zigofiltre; a filter that captures waste and lets water pass easily. Today we installed a little bit more than 2000 across 22 regions in Tunisia.

WeMake3D  |  Robotics WeMake3D produces locally made 3D printers fit for both the educational and industrial use. Our goal is to build the bridge between the two fields in order to accelerate the growth of the 3D printing technology in Tunisia, the MENA region and the African continent.

To learn more about the Tunisian startups, in-booth demonstrations, or schedule meetings visit the website at www.tunisianinnovationhub.com or connect via the CES 2025 App.

About Tunisia Innovation Hub
The Tunisian Innovation Hub, part of the U.S funded PROMISE project, will showcase 7 Tunisian startups at CES 2025 in Las Vegas, NV.

Organized by Tunisian American Young Professionals (TAYP), the booth highlights innovations in AI, 3D printing, renewable energy, e-mobility, marine tech, agri-tech, smart systems.

About Promise Exchange Program
Promise was founded to strengthen the Tunisian entrepreneurial ecosystem, allowing startups to attract international investments, become more scalable, and maximize economic impact. The program features multiple programs ranging from ideation bootcamps, international exchange programs, patenting assistance, and investment readiness. 

About Tunisian American Young Professionals
A non-profit organization powered by an ever-growing community of Tunisian and American professionals across various sectors of industries. We are committed to contributing our experiences and expertise to build thriving economic opportunities and vibrant cultural exchanges between Tunisia and the US.

By connecting professionals and through public-private partnerships, we create projects and initiatives focusing on Export, Entrepreneurship, Exchange and Education.

Press Contact:
Michelle Lorge
michelle@pitchcandypr.com
615-587-4980

Click here for more details about our booth at: https://ces25.mapyourshow.com/8_0/exhibitor/exhibitor-details.cfm?exhid=001Pp00000aVjSOIA0

View original content:https://www.prnewswire.com/news-releases/promise-exchange-program-debuts-at-ces-in-las-vegas-showcasing-7-tunisian-startups-302345133.html

SOURCE Tunisian American Young Professionals (TAYP)

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Empowering Mining with Green Innovation: SANY Unveils Africa’s Largest Solar-Storage-Diesel Microgrid

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January 8, 2025

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SHANGHAI, Jan. 7, 2025 /PRNewswire/ — On December 29th, SANY Silicon Energy reached a significant milestone in the international “Solar + Storage + Diesel” microgrid power generation sector by launching the Zambia Ruida Mining Microgrid Power Project. This initiative is recognized as Africa’s largest single-unit hybrid microgrid designed for mining operations, highlighting SANY’s commitment to promoting green energy transformation and sustainable development throughout the region.

Distinguished as Africa’s largest microgrid project designed for mining activities, the venture encompasses a 13 MWp solar photovoltaic (PV) system in conjunction with a 39 MWh battery energy storage system and a diesel generator as a backup power source. These components synergize to form a cutting-edge integrated microgrid system seamlessly harmonizing solar, storage, and diesel technologies. The project’s primary objective is to ensure a steadfast and dependable electricity supply for mining operations, consequently achieving energy self-sufficiency, diminishing reliance on conventional energy sources, and bolstering energy efficiency and sustainability.

Exhibiting the hallmark “SANY Speed,” the project swiftly progressed from the signing of the Power Purchase Agreement (PPA) to its commissioning within a mere four months. Despite navigating challenges posed by Zambia’s intricate topography, severe climate conditions, and logistical impediments stemming from underdeveloped infrastructure, our team demonstrated remarkable adaptability and operational efficiency.

The successful inauguration of this project signifies a pivotal juncture in SANY’s eco-conscious mining endeavors across Africa. It lays a robust groundwork for the continent’s green energy trajectory and reinforces our unwavering dedication to advancing sustainable energy solutions on a global scale.

Drawing on the expertise and technological capabilities developed through this initiative, SANY is dedicated to “Illuminating Africa” at “SANY Speed.” By actively driving the implementation of additional green energy projects, SANY seeks to lead global renewable energy trends and contribute Chinese innovation to the worldwide energy transition.

View original content to download multimedia:https://www.prnewswire.com/news-releases/empowering-mining-with-green-innovation-sany-unveils-africas-largest-solar-storage-diesel-microgrid-302345136.html

SOURCE SANY Group

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The Revolution of Travel Technology Defined at FITUR 2025

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January 8, 2025

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Organized by IFEMA MADRID, the International Tourism Trade Fair brings together over 100 pioneering companies in booking management technology from around the world, from January 22 to 26.

MADRID, Jan. 8, 2025 /PRNewswire/ — In a world of constant transformation, the travel industry has embraced technology as its greatest ally. Booking management, a critical component of customer experience, is one area undergoing significant revolution. Driven by technological innovation, current trends not only optimize operational efficiency but also reshape how people plan their journeys.

Amid this digital transformation, FITUR 2025, organized by IFEMA MADRID, will host the sector’s most pioneering companies under the TRAVEL TECHNOLOGY banner from January 22 to 26. This event will unveil key technological trends that are redefining how travelers search, decide, book, and review their experiences. Following a record 23% growth in 2024, Travel Technology 2025 is expanding by nearly 10%, surpassing 100 exhibiting companies.

Located in Hall 8, companies from countries including Spain, Italy, France, the Netherlands, the UK, Germany, the US, Brazil, Singapore, and Morocco, among others, will present cutting-edge solutions to the global tourism market. These include software solutions, online booking platforms, blockchain technology for secure and transparent management, price managers, innovative payment systems, virtual and augmented reality to inspire travel decisions, and AI-powered voice assistants for personalized service. These technologies help tourism businesses achieve their goals, enhance efficiency by automating and centralizing operations and administrative tasks, and save time and costs.

The convergence of these technologies´ points to a future where booking management will become increasingly connected and integrated. All this and more will be unveiled in the Travel Technology area, the epicenter of a vital travel sector segment undergoing rapid transformation. The travel technology industry is not only adapting to the expectations of modern travelers but is also leading the way toward a more efficient, personalized, and sustainable travel experience.

From January 22 to 26, 2025, in Hall 8 at IFEMA MADRID, FITUR Travel Technology will showcase the most cutting-edge solutions for booking management. Discover the latest developments in technology specifically designed to meet the needs of the tourism industry on: Fitur 2025 | International Tourism Fair

 

 

 

SOURCE FITUR/IFEMA MADRID

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