Olshan Represents 325 Capital, LLC in Agreement with MultiSensor AI Holdings, Inc. for $15M Private Placement and One Board Seat

Olshan represented 325 Capital, LLC in connection with the securities purchase agreement it entered into with MultiSensor AI Holdings, Inc. (Nasdaq: MSAI), a pioneer in AI-powered industrial condition-based maintenance and process control solutions. The agreement relates to the private offer and sale of approximately 2,772,561 shares of MultiSensor’s common stock at an offering price of $1.60 and pre-funded warrants to purchase 6,602,439 shares of common stock at an exercise price of $0.0001 per pre-funded warrants, at an offering price of $1.5999 per pre-funded warrant. The gross proceeds of the private offering were approximately $15.0 million before deducting placement agent fees and other estimated offering expenses payable by MultiSensor. This private offering follows MultiSensor’s public offering of 6,250,000 shares of its common stock at a public offering price of $1.60 per share. In connection with the closing of the private offering and in accordance with the terms of the securities purchase agreement, MultiSensor’s Board of Directors unanimously voted to increase the size of the Board from six to seven directors, and to appoint Mr. Daniel M. Friedberg to fill the newly created Board position, to serve until his successor shall have been duly elected and qualified or until his earlier death, resignation or removal. In addition, the Board appointed Mr. Friedberg to each of its compensation and nominating and corporate governance committees, as well as the Board's newly created finance committee. The Olshan team that represented 325 Capital, LLC in this transaction included Corporate partner Kenneth Schlesinger, Corporate associate John Corrado and Shareholder Activism associate Ian Engoron.