On November 26, 2024, Spectral AI, Inc. announced the repricing of its 8,433,333 publicly-traded common share purchase warrants. The exercise price was reduced from $11.50 per share to $2.75 per share, effective after a twenty-day notice period.
This repricing was executed at the company's discretion, as permitted under the Warrant Agreement, and applies uniformly to all outstanding warrants. The warrants trade on NASDAQ under the symbol MDAIW.
If all of these warrants are exercised for cash, Spectral AI could receive aggregate net proceeds of approximately $23 million. This potential capital infusion aims to strengthen the company's financial resources.
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