MultiSensor AI Holdings, Inc. Announces Closing of $10 Million Public Offering, Exercise of $1.5 Million Over-Allotment Option, Concurrent $15 Million Private Placement And Appointment of Daniel M. Friedberg to the Board of Directors

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[{"type":"text","content":"BEAUMONT, TX / ACCESSWIRE / July 1, 2024 / MultiSensor AI Holdings, Inc. (Nasdaq:MSAI) (\"MSAI\" or the \"Company\"), a pioneer in AI-powered industrial condition-based maintenance and process control solutions, today announced the closing of a firm commitment public offering of 6,250,000 shares of its common stock at a public offering price of $1.60 per share less the underwriting discount. The Company granted the underwriters a 45-day option to purchase up to 937,500 additional shares of common stock at the public offering price less an underwriting discount to cover over-allotments, which option was exercised in full and closed contemporaneous with the closing of the public offering. The gross proceeds from the public offering (including the proceeds from the exercise of the over-allotment option) were $11.5 million before deducting underwriting discounts, commissions and offering expenses.The Company intends to use the net proceeds from the public offering for working capital and general corporate purposes. The primary purpose of the offering is to increase the Company's capitalization and financial flexibility, and to enhance the trading volume for the Company's common stock.A registration statement on Form S-1 relating to the common stock sold in this offering was declared effective by the Securities and Exchange Commission (the \"SEC\") on June 27, 2024. The offering was made only by means of a prospectus. Copies of the final prospectus may be obtained on the SEC's website, www.sec.gov, or by contacting Roth Capital Partners, Attention: Equity Capital Markets, 888 San Clemente Drive, Suite 400, Newport Beach, CA 92660, or by telephone at 949-720-5700.Roth Capital Partners acted as the sole book-running manager and Sanders Morris LLC acted as co-manager of the public offering.Concurrent with the closing of the public offering, the Company closed the private offering and sale of 2,772,561 shares of its common stock at an offering price of $1.60 and pre-funded warrants to purchase up to 6,602,439 shares of common stock with an exercise price of $0.0001 per pre-funded warrant, and an offering price of $1.5999 per pre-funded warrant, to 325 Capital, LLC and its affiliates (collectively, \"325 Capital\"). The pre-funded warrants are not exercisable unless and until approved by the Company's stockholders. The offer and sale of t...

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