Spectral AI issues guidelines for retail investors on warrant exercise

Spectral AI , developer of the AI-driven DeepView® System, which received Breakthrough Device Designation from the U.S. FDA in 2018, that uses multi-spectral imaging and algorithms to predict burn healing potential, today announced instructions for retail investors on how to exercise any publicly-traded warrants. The warrant exercise process includes the following steps:

Contact Your Brokerage Firm. You should contact your broker’s corporate actions department to initiate the warrant exercise process.

Ensure Sufficient Funds in your Brokerage account. You will need to confirm that your brokerage account has adequate funds to cover the exercise price of $2.75 per warrant, plus any applicable fees.

Submit Exercise Request to your Broker. Your broker will request the following details (at a minimum):

Number of Warrants to Exercise

Processing and Settlement of the Exercise. Once processed by your Broker, the corresponding number of MDAI common shares will be deposited into your brokerage account. Processing time may vary based on your broker. If you elect to exercise less than the full amount of warrants per your warrant agreement, the Company will issue you a new warrant for the remaining warrant shares.

Broker-Specific Guidance. Individual brokerage firms may have separate requirements in addition to the items listed above. General guidance would include reaching out to your broker’s corporate action department and/or customer service department.