MSAI enters $25M equity line with B. Riley Principal Capital II

MultiSensor AI Holdings, Inc.

Up to $25M of newly issued common stock at Company's discretion over 36 months from Commencement Date.
Purchase price at 3.0% discount to VWAP; subject to volume and price thresholds.
Issued 171,821 commitment shares (~$2.91/share) as commitment fee; potential $500k make-whole payment.
Company controls timing and amount of sales; no obligation to sell; proceeds for working capital.
B. Riley agrees not to engage in short sales or hedging that establishes net short position.

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 Common Stock Purchase Agreement with B. Riley Principal Capital II, LLC valued at up to $25,000,000 (effective 2024-04-16).

Action: entry
Agreement: equity purchase
Counterparty: B. Riley Principal Capital II, LLC
Value: up to $25,000,000
Effective: 2024-04-16

Exact text from the filing

On April 16, 2024, MultiSensor AI Holdings, Inc. (the “ Company ”) entered into a Common Stock Purchase Agreement (the “ Purchase Agreement ”) and a related Registration Rights Agreement (the “ Registration Rights Agreement ”), each dated as of April 16, 2024, with B. Riley Principal Capital II, LLC (“ B. Riley Principal Capital II ”).

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MultiSensor AI Holdings, Inc. filing history →

Source: SEC EDGAR

accession 0001104659-24-047986

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