CONVERTIBLE DEBT - Marpai Health Convertible Notes - 2021 Convertible Notes (Details) |
2 Months Ended | |
---|---|---|
Jul. 29, 2021 |
Mar. 31, 2021
USD ($)
item
|
|
Debt Instrument [Line Items] | ||
Term of debt | 6 months | |
2021 Convertible Notes | ||
Debt Instrument [Line Items] | ||
Aggregate principal amount | $ 250,000 | |
Term of debt | 2 years | |
Minimum gross proceeds of equity financing required for automatic conversion of notes | $ 2,000,000 | |
Price per share determined based on maximum pre-money valuation on a fully diluted basis | $ 35,000,000 | |
Price per share determined based on discount on lowest price per share paid by the investors in financing round | 30.00% | |
IPO Price As Percentage Of Per Share Public Offering Price Stated In The Final Prospectus | 70.00% | |
Number of times the note amount, plus any accrued and unpaid interest payable upon change in control | item | 1.5 | |
Interest rate | 8.00% |