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ScanTech AI Systems ( (STAI) ) has issued an update.
On May 14, 2025, ScanTech AI Systems Inc. entered into a Loan and Security Agreement with Maximcash Solutions LLC, securing a $500,000 loan with a $15,000 origination fee. The loan, maturing on November 14, 2025, requires repayment of $610,000 over six months, with options for reduced repayment under certain conditions. The agreement includes issuing 1,000,000 common stock shares as collateral and additional shares for consulting services. The company must maintain a stock value to cover 200% of the loan if the stock price falls below $1.00. This financial maneuver aims to strengthen ScanTech AI Systems’ capital structure and operational flexibility.
More about ScanTech AI Systems
Average Trading Volume: 2,248,930
Technical Sentiment Signal: Sell
Current Market Cap: $24.43M
See more insights into STAI stock on TipRanks’ Stock Analysis page.