MultiSensor AI Holdings, Inc. (MSAI) announced a public offering and a concurrent private placement on June 27, 2024. The public offering consists of 6,250,000 shares of common stock at $1.60 per share, with an additional 937,500 shares option for underwriters to cover over-allotments. The private placement involves a $15.0 million transaction with 325 Capital LLC for shares of common stock and pre-funded warrants. Post-offering, the PIPE investor will hold approximately 31.8% of the voting power, assuming full exercise of the pre-funded warrants. The company, listed on The Nasdaq Capital Market under the symbol 'MSAI,' is considered an 'emerging growth company' and a 'smaller reporting company,' with reduced reporting requirements. The securities are expected to be delivered on or about July 1, 2024. Roth Capital Partners is...Show More

MultiSensor AI Holdings, Inc. (MSAI) announced a public offering and a concurrent private placement on June 27, 2024. The public offering consists of 6,250,000 shares of common stock at $1.60 per share, with an additional 937,500 shares option for underwriters to cover over-allotments. The private placement involves a $15.0 million transaction with 325 Capital LLC for shares of common stock and pre-funded warrants. Post-offering, the PIPE investor will hold approximately 31.8% of the voting power, assuming full exercise of the pre-funded warrants. The company, listed on The Nasdaq Capital Market under the symbol 'MSAI,' is considered an 'emerging growth company' and a 'smaller reporting company,' with reduced reporting requirements. The securities are expected to be delivered on or about July 1, 2024. Roth Capital Partners is the Sole Book-Running Manager for the offering, with Sanders Morris LLC as Co-Manager. Financially, the public offering could raise up to $10,695,000 for the company before expenses, depending on the exercise of the over-allotment option. MultiSensor AI Holdings, Inc. has outlined growth strategies including expanding sales and marketing, investing in SaaS solutions, and pursuing strategic acquisitions. The company faces competition from both large and emerging manufacturers and operates under strict government regulations for its thermal imaging technology. As of the announcement date, MSAI has 35 full-time employees and plans to expand its technical staff to support growth. The company has not reported any legal proceedings that could materially affect its operations.