# EDGAR Filing Document

**Accession Number:** 0001884274
**File Stem:** 0001213900-25-050255
**Filing Date:** 2025-6
**Character Count:** 15942
**Document Hash:** 806be2e3511a4216f6b66b659ef65a64
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001213900-25-050255.hdr.sgml**: 20250602

**ACCESSION NUMBER**: 0001213900-25-050255

**CONFORMED SUBMISSION TYPE**: SCHEDULE 13D/A

**PUBLIC DOCUMENT COUNT**: 1

**FILED AS OF DATE**: 20250602

**DATE AS OF CHANGE**: 20250602

**SUBJECT COMPANY**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Marpai, Inc.
- **CENTRAL INDEX KEY:** 0001844392
- **STANDARD INDUSTRIAL CLASSIFICATION:** SERVICES-MISC HEALTH & ALLIED SERVICES, NEC [8090]
- **ORGANIZATION NAME:** 08 Industrial Applications and Services
- **EIN:** 000000000
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** SCHEDULE 13D/A
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 005-93176
- **FILM NUMBER:** 251016910

**BUSINESS ADDRESS:**
- **STREET 1:** 615 CHANNELSIDE DRIVE
- **STREET 2:** SUITE 207
- **CITY:** TAMPA
- **STATE:** FL
- **ZIP:** 33602
- **BUSINESS PHONE:** 646-303-3483

**MAIL ADDRESS:**
- **STREET 1:** 615 CHANNELSIDE DRIVE
- **STREET 2:** SUITE 207
- **CITY:** TAMPA
- **STATE:** FL
- **ZIP:** 33602
**FILED BY**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Lamendola Damien
- **CENTRAL INDEX KEY:** 0001884274

**ORGANIZATION NAME:**

**FILING VALUES:**
- **FORM TYPE:** SCHEDULE 13D/A

**MAIL ADDRESS:**
- **STREET 1:** 5701 EAST HILLSBOROUGH AVENUE
- **STREET 2:** SUITE 1417
- **CITY:** TAMPA
- **STATE:** FL
- **ZIP:** 33610-5428

### UNITED STATES SECURITIES AND EXCHANGE COMMISSION
**Washington, D.C. 20549**

## SCHEDULE 13D

### Under the Securities Exchange Act of 1934

**(Amendment No. 10)**

**MARPAI, INC.**

*(Name of Issuer)*

**Class A Common Stock, $0.0001 par value**

*(Title of Class of Securities)*

**571354109**

*(CUSIP Number)*

**Damien Lamendola**<br>c/o Marpai, Inc.<br>615 Channelside Drive, Suite 207<br>Tampa FL 33602<br>(646) 303-3483

*(Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications)*

**06/02/2025**

*(Date of Event Which Requires Filing of this Statement)*

| **CUSIP No.** | **571354109** |

---

| | | | |
|:--|:--|:--|:--|
| 1 | Name of reporting person<br>**Damien Lamendola** | Name of reporting person<br>**Damien Lamendola** | |
| 2 | Check the appropriate box if a member of a Group (See Instructions)<br>[ ] (a)<br>[x] (b) | Check the appropriate box if a member of a Group (See Instructions)<br>[ ] (a)<br>[x] (b) | |
| 3 | SEC use only | SEC use only | |
| 4 | Source of funds (See Instructions)<br>**PF** | Source of funds (See Instructions)<br>**PF** | |
| 5 | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | |
| 6 | Citizenship or place of organization<br>**X1** | Citizenship or place of organization<br>**X1** | |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 7 | Sole Voting Power<br>**400000.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 8 | Shared Voting Power<br>**5836189.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 9 | Sole Dispositive Power<br>**400000.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 10 | Shared Dispositive Power<br>**5836189.00** |
| 11 | Aggregate amount beneficially owned by each reporting person<br>**5836189.00** | Aggregate amount beneficially owned by each reporting person<br>**5836189.00** | |
| 12 | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | |
| 13 | Percent of class represented by amount in Row (11)<br>**37.15%** | Percent of class represented by amount in Row (11)<br>**37.15%** | |
| 14 | Type of Reporting Person (See Instructions)<br>**IN** | Type of Reporting Person (See Instructions)<br>**IN** | |

---

**Comment for Reporting Person:** (1) Comprised of (i) 400,000 shares of Class A common stock, par value $0.0001 per share ("Common Stock") of Marpai, Inc. (the "Issuer") held directly by Mr. Lamendola, (ii) 4,447,093 shares of the Issuer's Common Stock held directly by HillCour Investment Fund, LLC, of which Mr. Lamendola is the Manager, and over which he holds the voting and dispositive power, (iii) 931,674 shares of the Issuer's Common Stock held directly by WellEnterprises USA, LLC, a wholly owned subsidiary of HillCour, Inc., which is wholly owned by HillCour Holdings LLC (f/k/a HillCour Holding Corporation) ("HillCour Holdings"), a corporation controlled by Mr. Lamendola, and Mr. Lamendola holds the voting and dispositive power over the securities held by WellEnterprises USA, LLC, (iv) 62,500 shares of the Issuer's Common Stock issuable upon the exercise of options issued to Mr. Lamendola at an exercise price of $4.44, of which 57,422 are vested and excluding (a) 310,000 Restricted Stock Units ("RSUs") which will vest over the next 2 years, held directly by HillCour Investment Fund, LLC, of which Mr. Lamendola is the Manager, and over which he holds the voting and dispositive power, and (b) 400,000 RSUs held directly by Mr. Lamendola, vesting as follows: 200,000 RSUs will vest on the first-year anniversary of the date of grant and 200,000 RSUs will vest on the second-year anniversary of the date of grant.

(2) Percentage is calculated based on 15,709,186 shares of Common Stock outstanding as of June 2, 2025.

| **CUSIP No.** | **571354109** |

---

| | | | |
|:--|:--|:--|:--|
| 1 | Name of reporting person<br>**HillCour Investment Fund, LLC 81-5352590** | Name of reporting person<br>**HillCour Investment Fund, LLC 81-5352590** | |
| 2 | Check the appropriate box if a member of a Group (See Instructions)<br>[x] (a)<br>[ ] (b) | Check the appropriate box if a member of a Group (See Instructions)<br>[x] (a)<br>[ ] (b) | |
| 3 | SEC use only | SEC use only | |
| 4 | Source of funds (See Instructions)<br>**WC** | Source of funds (See Instructions)<br>**WC** | |
| 5 | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | |
| 6 | Citizenship or place of organization<br>**FLORIDA** | Citizenship or place of organization<br>**FLORIDA** | |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 7 | Sole Voting Power<br>**0.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 8 | Shared Voting Power<br>**5378767.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 9 | Sole Dispositive Power<br>**0.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 10 | Shared Dispositive Power<br>**5378767.00** |
| 11 | Aggregate amount beneficially owned by each reporting person<br>**5378767.00** | Aggregate amount beneficially owned by each reporting person<br>**5378767.00** | |
| 12 | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | |
| 13 | Percent of class represented by amount in Row (11)<br>**34.24%** | Percent of class represented by amount in Row (11)<br>**34.24%** | |
| 14 | Type of Reporting Person (See Instructions)<br>**CO** | Type of Reporting Person (See Instructions)<br>**CO** | |

---

**Comment for Reporting Person:** (3) Comprised of (i) 4,447,093 shares of Common Stock of the Issuer held directly by HillCour Investment Fund, LLC, of which Mr. Lamendola is the Manager, and over which he holds the voting and dispositive power,  and (ii) 931,674 shares of the Issuer's Common Stock held directly by WellEnterprises USA, LLC, a wholly owned subsidiary of HillCour, Inc., which is wholly owned by HillCour Holdings, a corporation controlled by Mr. Lamendola, and Mr. Lamendola holds the voting and dispositive power over the securities held by WellEnterprises USA, LLC, and excluding 310,000 RSUs which will vest over the next 2 years, held directly by HillCour Investment Fund, LLC, of which Mr. Lamendola is the Manager, and over which he holds the voting and dispositive power.

| **CUSIP No.** | **571354109** |

---

| | | | |
|:--|:--|:--|:--|
| 1 | Name of reporting person<br>**WellEnterprises USA, LLC 46-0837544** | Name of reporting person<br>**WellEnterprises USA, LLC 46-0837544** | |
| 2 | Check the appropriate box if a member of a Group (See Instructions)<br>[x] (a)<br>[ ] (b) | Check the appropriate box if a member of a Group (See Instructions)<br>[x] (a)<br>[ ] (b) | |
| 3 | SEC use only | SEC use only | |
| 4 | Source of funds (See Instructions)<br>**WC** | Source of funds (See Instructions)<br>**WC** | |
| 5 | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | |
| 6 | Citizenship or place of organization<br>**FLORIDA** | Citizenship or place of organization<br>**FLORIDA** | |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 7 | Sole Voting Power<br>**931674.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 8 | Shared Voting Power<br>**0.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 9 | Sole Dispositive Power<br>**931674.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 10 | Shared Dispositive Power<br>**0.00** |
| 11 | Aggregate amount beneficially owned by each reporting person<br>**931674.00** | Aggregate amount beneficially owned by each reporting person<br>**931674.00** | |
| 12 | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | |
| 13 | Percent of class represented by amount in Row (11)<br>**5.93%** | Percent of class represented by amount in Row (11)<br>**5.93%** | |
| 14 | Type of Reporting Person (See Instructions)<br>**CO** | Type of Reporting Person (See Instructions)<br>**CO** | |

---

**Comment for Reporting Person:** (4) Comprised of 931,674 shares of the Issuer's Common Stock held directly by WellEnterprises USA, LLC, a wholly owned subsidiary of HillCour, Inc., which is wholly owned by HillCour Holdings, a LLC controlled by Mr. Lamendola. Mr. Lamendola holds the voting and dispositive power over the securities held by WellEnterprises USA, LLC.

**Item 1. Security and Issuer**

**(a) Title of Class of Securities:**
Class A Common Stock, $0.0001 par value

**(b) Name of Issuer:**
MARPAI, INC.

**(c) Address of Issuer's Principal Executive Offices:**
615 CHANNELSIDE DRIVE, SUITE 207, TAMPA, FL, 33602

This Amendment No. 10 (this "Schedule 13D/A") amends and supplements the Schedule 13D filed with the Securities and Exchange Commission (the "Commission") on February 1, 2022, as amended by Amendment No. 1 to Schedule 13D filed on February 1, 2022, Amendment No. 2 to Schedule 13D filed on August 23, 2022, Amendment No. 3 to Schedule 13D filed on August 28, 2022, Amendment No. 4 to Schedule 13D filed on November 28, 2023, Amendment No. 5 to Schedule 13D filed on December 18, 2023, Amendment No. 6 to Schedule 13D filed on January 19, 2024, Amendment No. 7 to Schedule 13D filed on March 7, 2024, Amendment No. 8 to Schedule 13D filed on May 29, 2024, and Amendment No. 9 to Schedule 13D filed on September 4, 2024 (collectively, this "Schedule 13D"). Each Item below amends and supplements the information disclosed under the corresponding Item of the Schedule 13D. Capitalized terms used but not defined herein shall have the meanings attributed to them in the Schedule 13D. Except as otherwise set forth herein, this Amendment No. 10 does not modify any of the information previously reported by the Reporting Persons in the Schedule 13D.

The purpose of this Schedule 13D/A filing is to update the ownership by Damien Lamendola, HillCour Investment Fund, LLC, and WellEnterprises USA, LLC (collectively the "Reporting Persons") of the Issuer's Common Stock.

**Item 4. Purpose of Transaction**

"Item 4. Purpose of Transaction" is not being amended by this Schedule 13D/A."

**Item 5. Interest in Securities of the Issuer**

**(a)**
(a) Damien Lamendola

As of January 28, 2025, Damien Lamendola may be deemed to be the beneficial owner of: (1) 400,000 shares of the Issuer's Common Stock held directly by Mr. Lamendola (2.55% of the outstanding Common Stock); (2) 4,447,093 shares of the Issuer's Common Stock held directly by HillCour Investment Fund, LLC (28.31% of the outstanding Common Stock), of which Mr. Lamendola is the Manager, and over which he holds the voting and dispositive power; (3) 931,674 shares of the Issuer's Common Stock (5.93% of the outstanding Common Stock) held directly by WellEnterprises USA, LLC, a wholly owned subsidiary of HillCour, Inc., which is wholly owned by HillCour Holdings, a LLC controlled by Mr. Lamendola, and he holds the voting and dispositive power over the securities held by WellEnterprises USA, LLC; (3) 43,750 shares of the Issuer's Common Stock issuable upon the exercise of options issued to Mr. Lamendola at an exercise price of $4.44, issued on June 14, 2022, and vesting monthly over a three year period, (4) 18,750 shares of the Issuer's Common Stock issuable upon the exercise of options issued to Mr. Lamendola at an exercise price of $4.44, issued on June 14, 2022, and vesting monthly over a four year period, and (5) 400,000 shares of the Issuer's Common Stock owned by Mr. Lamendola.

(b) HillCour Investment Fund, LLC

As of January 28, 2025, HillCour Investment Fund, LLC may be deemed to be the beneficial owner of: (1) 4,447,093 shares of the Issuer's Common Stock held directly by HillCour Investment Fund, LLC (28.31% of the outstanding Common Stock), and over which it holds the voting and dispositive power, and (2) 931,674 shares of the Issuer's Common Stock held directly by WellEnterprises USA, LLC, a wholly owned subsidiary of HillCour, Inc., which is wholly owned by HillCour Holdings, a LLC controlled by Mr. Lamendola, and he holds the voting and dispositive power over the securities held by WellEnterprises USA, LLC

(c)  WellEnterprises USA, LLC

As of January 28, 2025, WellEnterprises USA, LLC may be deemed to be the beneficial owner of 931,674 shares of the Issuer's Common Stock which it holds directly (5.93% of the outstanding Common Stock), and over which it holds voting and dispositive power.

**(b)**
—

**(c)**
—

**Item 6. Contracts, Arrangements, Understandings or Relationships With Respect to Securities of the Issuer.**

"Item 6. Contracts, Arrangements, Understandings or Relationships with Respect to Securities of the Issuer is not being amended by this Schedule 13D/A."

### SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

**Reporting Person:** Damien Lamendola

**Signature:** /s/ Damien Lamendola

**Name/Title:** Damien Lamendola

**Date:** 06/02/2025

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

**Reporting Person:** HillCour Investment Fund, LLC 81-5352590

**Signature:** /s/ Damien Lamendola

**Name/Title:** Damien Lamendola/Manager

**Date:** 06/02/2025

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

**Reporting Person:** WellEnterprises USA, LLC 46-0837544

**Signature:** /s/ Damien Lamendola

**Name/Title:** Damien Lamendola/Manager

**Date:** 06/02/2025