share_log

S-1: General form for registration of securities under the Securities Act of 1933

SEC announcement ·  Apr 29 09:33
Summary by Moomoo AI
On April 29, 2024, MultiSensor AI Holdings, Inc., previously known as Infrared Cameras Holdings, Inc., filed a Form S-1 Registration Statement with the Securities and Exchange Commission (SEC). Concurrently, the company executed a Purchase Agreement and Registration Rights Agreement with B. Riley Principal Capital II, LLC. Under the agreement, MultiSensor AI Holdings may sell up to $25 million of its common stock to B. Riley Principal Capital II. The deal includes the registration of 5,300,000 shares for resale, of which 171,821 are Commitment Shares issued to B. Riley as part of the transaction. The sale of shares is contingent upon the SEC declaring the registration statement effective, and the company has the discretion to sell shares over a 36-month period once conditions are met. While...Show More
On April 29, 2024, MultiSensor AI Holdings, Inc., previously known as Infrared Cameras Holdings, Inc., filed a Form S-1 Registration Statement with the Securities and Exchange Commission (SEC). Concurrently, the company executed a Purchase Agreement and Registration Rights Agreement with B. Riley Principal Capital II, LLC. Under the agreement, MultiSensor AI Holdings may sell up to $25 million of its common stock to B. Riley Principal Capital II. The deal includes the registration of 5,300,000 shares for resale, of which 171,821 are Commitment Shares issued to B. Riley as part of the transaction. The sale of shares is contingent upon the SEC declaring the registration statement effective, and the company has the discretion to sell shares over a 36-month period once conditions are met. While MultiSensor AI Holdings will not profit from the resale of shares by B. Riley, it stands to gain up to $25 million from direct sales. The proceeds are intended for working capital and general corporate purposes. The agreement sets a Beneficial Ownership Limitation and an Exchange Cap, with provisions against short-selling or hedging by B. Riley. The company has disclosed that its future as a going concern is uncertain and hinges on securing additional financing.

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