SportsMap Tech Acquisition Corp. secures $600K in loans from sponsor affiliates and third parties

MultiSensor AI Holdings, Inc.

Entered loan agreements Nov 9, 2023 with sponsor affiliates & third parties for aggregate $600,000; no interest, payable after business combination.
As inducement, Company will transfer pro rata portion of 60,000 Founder Shares to lenders, under prior May 2023 Share Transfer Agreement for up to 500k shares.
Lenders waive any claim to trust account if no business combination; repayment only from funds outside trust.
Loans are non-convertible and non-recourse; proceeds for working capital before initial business combination.

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