SportsMap Tech Acquisition Corp. enters $6.805M convertible note financing; director participation approved

MultiSensor AI Holdings, Inc.

$6.805M in convertible promissory notes issued to investors, including $4.3M cash proceeds.
Board and audit committee approved participation of directors Gow ($200K), Webster ($200K), and Luck ($100K) in financing.
Notes bear 9% interest (11% if paid in stock), convertible at $10/share, mature 3 years after closing.
Financing Warrants to purchase 340,250 shares at $11.50, plus up to 680,500 inducement shares from founders.
ICI announced SmartIR platform available on AWS Marketplace (press release furnished).

item 1.01 item 2.03 item 3.02 item 7.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

MultiSensor AI Holdings, Inc. entered into Subscription Agreement with various investors, including David Gow, Steven Webster, and Oliver Luck valued at $6.805 million in convertible promissory notes (effective 2023-12-01).

Action: entry
Agreement: notes offering
Counterparty: various investors, including David Gow, Steven Webster, and Oliver Luck
Value: $6.805 million in convertible promissory notes
Effective: 2023-12-01

Exact text from the filing

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”).

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Source: SEC EDGAR

accession 0001104659-23-124355

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