MultiSensor AI cancels 2.4M earnout shares, releases 2.12M shares from lock-up to aid Nasdaq compliance

MultiSensor AI Holdings, Inc.

Earnout provision terminated effective March 7, 2024; up to 2,400,000 shares would have been issued upon certain triggers.
Lock-up restrictions waived for 2,123,746 shares held by non-affiliates; no change for affiliates.
Nasdaq hearing scheduled for March 21, 2024 regarding non-compliance with listing standards; possible extension through June 17, 2024.
Lock-up waiver is intended to help satisfy Nasdaq's initial listing requirements.

item 1.01 item 8.01 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 Lock-Up Waiver Agreement (effective 2024-03-07).

Action: entry
Effective: 2024-03-07

Exact text from the filing

the Company entered into an agreement to waive the lock-up restrictions (the “Lock-Up Waiver Agreement”) with respect to 2,123,746 shares of the Company’s common stock

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

MultiSensor AI Holdings, Inc. terminated Earnout Waiver Agreement (effective 2024-03-07).

Action: termination
Agreement: asset purchase
Effective: 2024-03-07

Exact text from the filing

MultiSensor AI Holdings, Inc. (the “Company”) today entered into an agreement (the “Earnout Waiver Agreement”) to terminate a provision of the Business Combination Agreement

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589 material agreements filed in the last 30 days. Browse all material agreements →

MultiSensor AI Holdings, Inc. filing history →

Source: SEC EDGAR

accession 0001104659-24-031696

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