MultiSensor AI Holdings, Inc. (MSAI), a company specializing in sensor technology for the oil & gas sector, announced a public offering of 4,672,897 shares of common stock. The offering, dated June 17, 2024, is set to commence after the registration statement becomes effective, with an assumed price of $2.14 per share. MSAI's stock is traded on The Nasdaq Capital Market under the ticker 'MSAI' and the offering is underwritten on a firm commitment basis. Underwriters have the option to purchase an additional 684,931 shares to cover over-allotments within a 45-day period. The final offering price will be determined through negotiations between MSAI and the underwriters. The company, which is classified as an 'emerging growth company' and a 'smaller reporting company,' plans to use the...Show More

MultiSensor AI Holdings, Inc. (MSAI), a company specializing in sensor technology for the oil & gas sector, announced a public offering of 4,672,897 shares of common stock. The offering, dated June 17, 2024, is set to commence after the registration statement becomes effective, with an assumed price of $2.14 per share. MSAI's stock is traded on The Nasdaq Capital Market under the ticker 'MSAI' and the offering is underwritten on a firm commitment basis. Underwriters have the option to purchase an additional 684,931 shares to cover over-allotments within a 45-day period. The final offering price will be determined through negotiations between MSAI and the underwriters. The company, which is classified as an 'emerging growth company' and a 'smaller reporting company,' plans to use the proceeds for general corporate purposes, including capital expenditures, working capital, and expanding sales and marketing. MSAI is known for its handheld sensor devices, UAV sensing payloads, and fixed camera solutions with AI/ML capabilities. The company is expanding its global sales and marketing network and invests heavily in R&D to maintain its competitive edge. MSAI is subject to export regulations and owns various intellectual property rights. With 35 full-time employees, the company is headquartered in Beaumont, Texas, and is not involved in any legal proceedings that would materially affect its business. Previously a blank check company, MSAI merged with Infrared Cameras Holdings, Inc., and now focuses on its current operations. The company's capital stock includes common stock with dividend, liquidation, and voting rights, and preferred stock to be designated by the board. MSAI has anti-takeover provisions and securities resale restrictions under Rule 144. Management and directors hold significant beneficial ownership, with experienced professionals leading the company's strategic direction.