Spectral AI Inc. (MDAI) Eyes $7.6M Capital Raise to Accelerate DeepView System Development

Spectral AI Inc. (NASDAQ:MDAI) is one of the best AI stocks to buy under $20. On October 23, the company announced the pricing of a $7.6 million offering to bolster its balance sheet. The raising of additional capital should help support the expansion and development of the company’s DeepView System.

In the offering, the company is to issue 4 million shares of common stock at $1.90 per share and corresponding warrants at $2.51 per share. The capital injection will help broaden the company’s clinical indications and prepare it for commercial readiness in 2026.

“This financing ensures that we can continue to develop and expand the DeepView System’s clinical indications and prepare for commercial readiness in 2026. We remain fully committed to supporting our current BARDA Project BioShield (PBS) contract, while also advancing our AI-powered technology to broaden our product offerings and deliver innovative solutions to the global medical community,” said J. Michael DiMaio, MD, Chairman of the Board of Spectral AI.

Spectral AI Inc. (NASDAQ:MDAI) is a medical diagnostics company that uses artificial intelligence (AI) and multispectral imaging to assess the healing potential of wounds. The company’s technology helps clinicians make faster and more accurate treatment decisions for patients with burns and diabetic foot ulcers.

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Disclosure: None. This article is originally published at Insider Monkey.