Marpai (MRAI) Form 3 Marpai / Ian J. Cassel ownership change

SEC Form 3

FORM 3

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

INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

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1. Name and Address of Reporting Person^*

Intelligent Fanatics Capital Management LLC

(Last) (First) (Middle)

350 RUMFORD ROAD

(Street)

LITITZ PA 17543

(City) (State) (Zip)

2. Date of Event Requiring Statement (Month/Day/Year)
12/03/2024

3. Issuer Name and Ticker or Trading Symbol
Marpai, Inc. [ MRAI ]

4. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

Director	X	10% Owner
Officer (give title below)		Other (specify below)

5. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

	Form filed by One Reporting Person
X	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Beneficially Owned
1. Title of Security (Instr. 4)	2. Amount of Securities Beneficially Owned (Instr. 4)	3. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	4. Nature of Indirect Beneficial Ownership (Instr. 5)
Common Shares, par value $0.0001	1,864,707	I	See Footnotes(1)(2)
Common Shares, par value $0.0001	1,864,707	D(1)

Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 4)	2. Date Exercisable and Expiration Date (Month/Day/Year)		3. Title and Amount of Securities Underlying Derivative Security (Instr. 4)		4. Conversion or Exercise Price of Derivative Security	5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)
	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

1. Name and Address of Reporting Person^*

Intelligent Fanatics Capital Management LLC

(Last) (First) (Middle)

350 RUMFORD ROAD

(Street)

LITITZ PA 17543

(City) (State) (Zip)

1. Name and Address of Reporting Person^*

IFCM MicroCap Fund LP

(Last) (First) (Middle)

350 RUMFORD ROAD

(Street)

LITITZ PA 17543

(City) (State) (Zip)

1. Name and Address of Reporting Person^*

Cassel Ian J.

(Last) (First) (Middle)

350 RUMFORD ROAD

(Street)

LITITZ PA 17543

(City) (State) (Zip)

Explanation of Responses:

1. Intelligent Fanatics Capital Management LLC (IFCM) is the general partner of IFCM MicroCap Fund LP (Fund). The securities reported in this form are held directly by the Fund and indirectly by IFCM and Mr. Cassel (see footnote 2).

2. Mr. Cassel is the sole managing member of IFCM. Mr. Cassel has shared voting and investment power with respect to, and therefore may be deemed to be the beneficial owner of, the shares beneficially owned by the Fund. Mr. Cassel disclaims beneficial ownership of the shares beneficially owned by the Fund, other than the shares attributable to his limited and general partnership interest therein.

	/s/ Ian Cassel, on behalf of himself and each other reporting person hereunder	01/02/2025
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 5 (b)(v).
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