MultiSensor AI wins Nasdaq continued listing; converts $1.65M notes to common stock

MultiSensor AI Holdings, Inc.

Nasdaq Panel granted continued listing subject to filing Q1 10-Q with >$2.5M stockholders equity by May 15, 2024.
Transfer to Nasdaq Capital Market moots prior $50M market value deficiency notice.
Converted $1.65M aggregate principal of convertible notes into 334,397 shares at $10/share, including 165,000 inducement shares.
Company expects to demonstrate >$2.5M equity as of March 31, 2024; failure could trigger delisting.
Inducement shares require resale registration statement within 30 days of conversion.

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