Spectral AI, Inc. announced on November 19, 2024, the successful completion of an approximate $5.0 million equity financing through an at-the-market transaction. This capital infusion is intended to strengthen the company's financial position.
A portion of the proceeds from this financing will be allocated to the retirement of outstanding obligations with Yorkville Advisors. This move reinforces Spectral AI's balance sheet and enhances its operational flexibility.
The financing supports Spectral AI's growth trajectory and its progress toward submitting its DeepView AI-Burn system for U.S. Food and Drug Administration (FDA) approval, a crucial milestone targeted for the first half of 2025.
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