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MultiSensor AI Holdings, Inc. director Flavin Stuart V received an equity award rather than making an open-market trade. On March 31, 2026, he was granted 47,619 restricted stock units (RSUs), each representing one share of common stock under the company’s 2023 Incentive Award Plan. The RSUs vested in full on the grant date, and following this award he directly holds 150,072 shares of common stock. This is a compensation-related share acquisition, not a purchase or sale on the market.
Chu Margaret M reported acquisition or exercise transactions in this Form 4 filing.
MultiSensor AI Holdings, Inc. director Margaret M. Chu received an equity award of 47,619 shares of common stock on March 31, 2026, in the form of restricted stock units granted under the company’s 2023 Incentive Award Plan. The RSUs vested in full on the grant date, bringing her directly held position to 136,707 shares of common stock.
FRIEDBERG DANIEL M. reported acquisition or exercise transactions in this Form 4 filing.
MultiSensor AI Holdings, Inc. reported that director designee Daniel M. Friedberg received an award of 95,238 shares of common stock, bringing his reported direct holdings to 245,345 shares. Under an arrangement with 325 Capital and its affiliates, any equity awards to Mr. Friedberg in his director capacity are held for, transferred to, or monetized for the benefit of 325 or its affiliates, so he does not have a direct pecuniary interest in these securities.
The filing, made jointly by 325 Capital Master Fund LP, 325 Capital GP, LLC, 325 Capital LLC and related individuals, also lists large indirect positions in common stock and warrants exercisable at $0.409 per share. These warrants are exercisable from the date of stockholder approval and expire five years from issuance. A Maximum Ownership Limitation of 49.5% restricts any holder’s beneficial ownership, with excess exercisability shifting into Series A Convertible Preferred Stock instead of additional common shares.
MultiSensor AI Holdings, Inc. reported full-year 2025 revenue of $5.6 million, down from $7.4 million in 2024 as it shifts from hardware sales toward subscription solutions. The company’s net loss narrowed to $11.7 million from $21.5 million, reflecting lower operating expenses.
Operating cash outflow improved to $8.0 million from $15.6 million. MultiSensor AI strengthened its balance sheet by raising $30.9 million from issuances of common stock and pre-funded warrants, helping increase cash and cash equivalents to $24.4 million at December 31, 2025, compared with $4.5 million a year earlier.
MultiSensor AI Holdings, Inc. provides integrated condition monitoring and early threat detection solutions that link thermal, visual, acoustic and other sensors to its MSAI Connect software platform, delivered as SaaS and on-premises. The company targets automation‑intensive sites such as distribution hubs, manufacturing plants and data centers.
As of December 31, 2025, about 730 sensors were connected to MSAI Connect, up from roughly 460 a year earlier, a 59% increase. Management estimates a 2025 total addressable market of $9.0 billion across its three focus sectors, where its market share is under 0.1%. Strategy centers on growing recurring software revenue, expanding within large enterprise accounts and using contract manufacturing to scale.
The business remains loss‑making as it shifts from standalone hardware to a platform model, with a net loss of approximately $11.7 million for 2025 versus $21.5 million in 2024. Risks highlighted include customer concentration – one distribution and logistics customer represented 36% of 2025 revenue – dependence on a small workforce, reliance on cloud providers such as Amazon Web Services, exposure to component suppliers in China, long sales cycles and the need for additional capital to support growth. The company also notes it has realigned away from oil and gas, metals and mining, drone offerings, and certain service lines to focus on core SaaS‑centric markets.
MultiSensor AI Holdings, Inc. entered into an at-the-market issuance sales agreement that allows it to sell up to $60,000,000 of common stock from time to time through Roth Capital Partners and H.C. Wainwright as sales agents or principals.
Shares may be sold directly on The Nasdaq Capital Market or through other permitted methods, with the company paying the agents a commission of up to 3.0% of gross sales proceeds. MultiSensor AI plans to use any net proceeds primarily for working capital and general corporate purposes.
In connection with this offering framework, the company also amended an existing Securities Purchase Agreement dated October 24, 2025 to permit the at-the-market sales. The shares will be offered under an effective shelf registration statement on Form S-3 and a related prospectus supplement.
MultiSensor AI Holdings, Inc. has entered into an at-the-market sales agreement with Roth Capital Partners and H.C. Wainwright to offer and sell up to $60,000,000 of common stock from time to time. The program permits sales on Nasdaq or other trading markets at prevailing market prices; the Agents may act as agents or principals and receive commissions up to 3.0. Proceeds are intended for working capital and general corporate purposes. The company’s common stock trades on The Nasdaq Capital Market under the symbol MSAI; the last reported sale price cited here was $0.30 per share on March 12, 2026. Shares outstanding were stated as 80,491,889 as of March 12, 2026, and the prospectus example assumes potential sales of 200,000,000 shares at $0.30 per share for illustrative purposes.
MultiSensor AI Holdings, Inc. received a Schedule 13G filing showing that Ayrton Capital LLC, Alto Opportunity Master Fund, SPC - Segregated Master Portfolio B, and Waqas Khatri collectively report beneficial ownership of 5,602,028 shares of common stock, or 9.99% of the class, as of December 31, 2025.
The position consists of 2,444,988 shares of common stock and 3,157,040 additional shares issuable upon exercise of warrants that are subject to a 9.99% beneficial ownership blocker. The ownership percentages are based on 52,874,445 shares of common stock outstanding as of December 4, 2025, plus the warrant shares.
The reporting persons certify that the securities were acquired and are held in the ordinary course of business and not for the purpose of changing or influencing control of MultiSensor AI Holdings, Inc.
MultiSensor AI Holdings, Inc. terminated two stock financing arrangements effective February 2, 2026. The company ended a Common Stock Purchase Agreement with B. Riley Principal Capital II that had allowed sales of up to $25.0 million of common stock. Before termination, it sold 1,814,731 shares for cash proceeds of approximately $4.7 million and incurred no termination penalties.
The company also ended an at-the-market issuance Sales Agreement with B. Riley Securities that had permitted up to $8.6 million of common stock sales. Under this agreement, it sold 151,072 shares for cash proceeds of approximately $115,793, again with no termination penalties.
MultiSensor AI Holdings, Inc. reported an insider equity transaction by its Chief Financial Officer, Robert Nadolny. On January 7, 2026, 14,681 shares of common stock were withheld at a price of $0.29 per share to cover tax withholding obligations tied to restricted stock units that had vested on January 1, 2026. After this tax-related withholding, Nadolny directly beneficially owns 222,278 shares of MultiSensor AI common stock.