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ScanTech AI Systems ( (STAI) ) has provided an announcement.
On December 22, 2025, ScanTech AI Systems Inc. entered into a securities purchase agreement with Vanquish Funding Group Inc. under which ScanTech issued a convertible promissory note of up to $270,900, bearing 10% annual interest and maturing on October 22, 2026, with an original issue discount of $12,900. Vanquish may convert the outstanding principal, accrued interest and fees into ScanTech common shares at a 25% discount to market after 180 days, subject to a 4.99% beneficial ownership cap and a 19.99% overall conversion cap tied to stock exchange rules, while ScanTech retains the right to prepay the note at a premium depending on timing and intends to issue any conversion shares in a private, unregistered transaction under U.S. securities law exemptions, balancing new financing needs against dilution and regulatory constraints for existing shareholders.
More about ScanTech AI Systems
ScanTech AI Systems Inc. operates in the technology sector and is focused on artificial intelligence-based systems, with its common stock traded on a public market and subject to Nasdaq-style stock exchange rules and U.S. securities regulations. The company raises capital through securities offerings and convertible instruments aimed at funding its operations while managing dilution and compliance with stock exchange ownership and issuance limits.
Average Trading Volume: 319,506
Technical Sentiment Signal: Sell
Current Market Cap: $10.74M
See more data about STAI stock on TipRanks’ Stock Analysis page.