ScanTech eliminates $30M in legacy debt

ScanTech (STAI) AI Systems announced the completion of an approximate $30 million debt/equity restructuring into approximately 15 million unregistered shares of common stock with key institutional stakeholders as detailed in the Company’s recently Form 8-Ks filed with the U.S. Securities and Exchange Commission. The Company believes that this initiative represents a critical step in strengthening the Company’s capital structure. The company further believes this approach underscores key stakeholders’ commitment and confidence in both technology and our long-term strategic vision. These actions help to strengthen the Company’s balance sheet, improve financial agility, position the Company for long-term institutional investors, and accelerate execution of its growth strategy.