---
schema_version: "secwatch.filing_event.v1"
accession: "0001104659-23-122903"
form_type: "8-K"
ticker: "MSAI"
cik: "0001863990"
company_name: "MultiSensor AI Holdings, Inc."
filed_at: "2023-12-01T23:59:59+00:00"
generated_at: "2026-06-07T19:35:06.324365+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.65
calibrated_materiality_score: 0.65
confidence: "high"
source: SEC EDGAR
---

# SportsMap Tech raises $6.8M in convertible notes for ICI merger

## Summary
- Subscription agreement for $6.805M convertible notes; $4.3M net cash, $1.48M exchanged for existing SportsMap notes, $1M rolled over from ICI note.
- Notes bear 9% interest (cash) or 11% (stock), mature 3 years post-closing, convertible at $10.00 per share.
- Investors receive 340,250 warrants at $11.50/share and 680,500 inducement shares from founders/ICI stockholders.
- David Gow (CEO) and Steven Webster (director) participate; closing contingent on business combination.
- ICI announces SmartIR platform now available in AWS Marketplace for AI-powered predictive maintenance.

## SEC filing metadata
- accession: 0001104659-23-122903
- form_type: 8-K
- ticker: MSAI
- cik: 0001863990
- company_name: MultiSensor AI Holdings, Inc.
- filed_at: 2023-12-01T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.65
- calibrated_materiality_score: 0.65
- confidence: high
- sec_items: 1.01, 2.03, 3.02, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1863990/000110465923122903/0001104659-23-122903-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1863990/000110465923122903/tm2332013d1_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-23-122903
- JSON: https://secwatch.observer/filing/0001104659-23-122903.json
- Plain text: https://secwatch.observer/filing/0001104659-23-122903.txt

## Key facts
- Debt Financings
  MultiSensor AI Holdings, Inc. incurred convertible notes of $6.805 million with various investors (the "Financing Investors") at 9% per annum maturing third anniversary of the Closing.
  - Instrument: convertible notes
  - Principal: $6.805 million
  - Counterparty: various investors (the "Financing Investors")
  - Rate: 9% per annum
  - Maturity: third anniversary of the Closing
  - Event: incurrence
  source text: On December 1, 2023, SportsMap entered into a subscription agreement (the “Subscription Agreement”) with various investors (the “Financing Investors”), pursuant to which it will issue and sell to the Financing Investors an aggregate of $6.805 million in convertible promissory notes (the “Financing Notes”) in connection with the Closing (such transaction, the “Financing”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/1863990/000110465923122903/0001104659-23-122903-index.htm
- Material Agreements
  MultiSensor AI Holdings, Inc. entered into Subscription Agreement with various investors (the "Financing Investors") valued at $6.805 million in convertible promissory notes (effective 2023-12-01).
  - Action: entry
  - Agreement: equity purchase
  - Counterparty: various investors (the "Financing Investors")
  - Value: $6.805 million in convertible promissory notes
  - Effective: 2023-12-01
  source text: On December 1, 2023, SportsMap entered into a subscription agreement (the “Subscription Agreement”) with various investors (the “Financing Investors”), pursuant to which it will issue and sell to the Financing Investors an aggregate of $6.805 million in convertible promissory notes (the “Financing Notes”) in connection with the Closing (such transaction, the “Financing”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/1863990/000110465923122903/0001104659-23-122903-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.