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ScanTech AI Systems Common Stock Begins Quotation on OTCQB
ScanTech AI Systems announced that its common stock has commenced quotation on the OTCQB Venture Market, operated by OTC Markets Group Inc. The Company's shares previously traded on the OTC Pink market following the suspension of trading on the Nasdaq Global Market on February 10, 2026. The Company is engaged in discussions with its creditors regarding potential transactions intended to improve its balance sheet, which may include debt restructurings, exchanges, modifications or debt-to-equity conversions. To date, the Company has not entered into any definitive agreement with respect to any such transaction, and there can be no assurance that any agreement, amendment, exchange, conversion or other balance sheet improvement transaction will be reached or completed, or, if completed, on terms favorable to the Company. Any such transaction would be subject to further negotiation, execution of definitive documentation, applicable approvals and other customary conditions.
ScanTech Receives Nasdaq Listing Status Update
ScanTech provided an update regarding recent correspondence received from Nasdaq related to the company's continued listing status. On February 4, the company received a deficiency notice from Nasdaq's Listing Qualifications Department indicating that, based on Nasdaq's review of the company's market value of publicly held shares - or MVPHS - for the 30 consecutive business days ended February 3, the company did not meet the minimum MVPHS requirement of $15M under Nasdaq listing rules and that the company has a 180-day compliance period, through August 3, to regain compliance. Compliance may be achieved if the company's MVPHS closes at or above $15M for a minimum of ten consecutive business days during this period. Separately, on February 6, the company received a determination letter from the Nasdaq Hearing Panel denying the company's request for continued listing on the Nasdaq Global Market. The Panel's decision, which followed a hearing held on January 22, cited non-compliance with Nasdaq Listing Rules regarding the periodic filing requirement and minimum market value of listed securities. As a result, Nasdaq has notified the company that trading of its securities on the Nasdaq Global Market is scheduled to be suspended at the open of trading on February 10, unless further action is taken. The company has 15 days from receipt of the determination letter to request a review of the Panel's decision by the Nasdaq Listing and Hearing Review Council. The company is currently evaluating and intends to pursue available options, including submitting a request for review. In parallel, the company intends to apply for its common stock to be quoted on the OTCQB Venture Market.
ScanTech AI Partners with City of Atlanta to Enhance Safety
ScanTech AI Systems announced a collaborative pilot program with the City of Atlanta designed to support the city's efforts to enhance safety, improve operational efficiency, and advance infrastructure modernization across select municipal and event facilities ahead of the 2026 FIFA Football World Cup events.
ScanTech AI CEO Reports Compliance Progress at Nasdaq Hearing
ScanTech AI Systems announced that its Chief Executive Officer, Dolan Falconer, and Chief Financial Officer, James White, presented on behalf of the Company at a hearing before the Nasdaq Hearings Panel on January 22, 2026. During the hearing, management outlined the Company's progress to date and its ongoing plan to address the remaining listing compliance matter, consistent with the written submission and subsequent updates previously provided to Nasdaq. The Company confirmed that it is now actively executing on the steps described to the Panel, including continued engagement with creditors and capital markets counterparties, as part of its broader balance-sheet regularization and re-compliance strategy. "We appreciate the opportunity to present directly to the Hearings Panel and to address their questions," said Dolan Falconer, Chief Executive Officer of ScanTech AI. "The Company is focused on execution, transparency, and completing the final steps of our re-compliance plan in a manner that the Company believes supports long-term stability and shareholder interests."
ScanTech AI Systems Regains Nasdaq Compliance
ScanTech AI Systems has regained compliance with Nasdaq Listing Rule 5250(c)(1), the periodic reporting requirement. Nasdaq Listing Qualifications staff determined that the Company satisfied the reporting requirement following the filing of its Form 10-Q for the quarter ended September 30, 2025, and that this matter has been deemed moot. In addition to restoring reporting compliance, the Company has made continued progress across its broader re-compliance initiatives. These actions include the implementation of a reverse stock split to address bid-price mechanics, the timely submission of its written materials to the Nasdaq Hearings Panel in accordance with Nasdaq Listing Rule 5815, and ongoing engagement with advisors to address remaining listing compliance matters in an orderly and disciplined manner. As previously disclosed, the Company continues to address the remaining Minimum Value of Listed Securities requirement before the Nasdaq Hearings Panel, with a hearing currently scheduled for January 22, 2026. The Company's securities remain listed on Nasdaq pending the outcome of the hearings process. Separately, the Company continues to actively evaluate its capital structure and liquidity position and is engaged in constructive discussions with certain creditors regarding potential restructuring, amendment, or other resolution of outstanding obligations. These discussions form part of a broader effort to strengthen the Company's balance sheet and financial flexibility. While these discussions are ongoing and no definitive agreements have been reached, management believes they represent an important component of the Company's overall restructuring strategy.
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