ScanTech enters into Purchase Agreement with ARC Group

ScanTech (STAI) AI Systems announced it has entered into a Purchase Agreement establishing an equity line of credit of up to $50 million with ARC Group International, a global financial services firm. The ELOC, following registration with the SEC of the shares to be issued under the ELOC, is expected to provide ScanTech AI with flexible, long-term growth capital to fund R&D, commercialization of its SENTINEL AI threat detection platform, and make continued progress towards regaining Nasdaq compliance. ARC has also committed to an initial $500,000 PIPE equity investment, signalling its immediate commitment to ScanTech AI’s vision.