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Spectral AI raises up to $5M financing
The Fly

Spectral AI raises up to $5M financing

Spectral AI (MDAI) announced the completion of an approximate $5M equity financing in an at-the-market transaction. The closing is to be completed in two tranches. Part of the proceeds will be used for the retirement of its outstanding obligations with Yorkville Advisors. This transaction supports Spectral AI’s growth trajectory and progress toward a submission to the U.S. Food and Drug Administration for approval of its DeepView AI-Burn system, a crucial milestone targeted for the first half of 2025. The equity financing was made possible through a strategic financing arrangement with institutional investors, a testament to Spectral AI’s ability to attract significant financial support. This arrangement, which included an at-the-market offering of equity and pre-funded warrants, strengthens Spectral AI’s balance sheet and enhances its operational flexibility as it pursues FDA approval.

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