MultiSensor AI converts $4.475M notes & $200K loan to boost equity for Nasdaq compliance

MultiSensor AI Holdings, Inc.

Converted $4.475M in convertible notes and $200K loan into common stock; issued 663,318 shares including inducement shares.
Reduced conversion price on remaining $3.53M notes (incl. $1.2M from directors) to $5.00 per share to incentivize conversion.
Pro forma stockholders' equity as of Dec 31, 2023 reached $4.407M, up from a deficit of $268K.
Company attended Nasdaq hearing on March 21, 2024 to appeal delisting; plan includes equity increases to cure deficiencies.
Issued 60,060 shares to director David Gow to cancel $200K loan; shares subject to six-month lock-up.

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