ScanTech provides update on Nasdaq trading, hearings process

ScanTech (STAI) AI Systems provided an update regarding its previously disclosed Nasdaq listing compliance process and ongoing restructuring and creditor management discussions. As previously announced, the Company has requested a hearing before the Nasdaq Hearings Panel in connection with a determination by Nasdaq’s Listing Qualifications Department. The hearing is currently scheduled for January 22, 2026. The Company’s securities remain listed on Nasdaq pending the outcome of the hearings process. The Company has timely submitted its written submission to the Nasdaq Hearings Panel in accordance with Nasdaq Listing Rule 5815. In connection with the matters identified by Nasdaq, the Company has taken corrective and procedural actions, including the filing of its most recent periodic report and the implementation of a 1-for-20 reverse stock split, which became effective for trading on December 16. In parallel, the Company continues to evaluate its capital structure and liquidity position and is engaged in ongoing discussions with certain creditors regarding potential restructuring, amendment, or other resolution of outstanding obligations. These discussions are ongoing, and no definitive agreements have been reached. The Company may dispute certain asserted defaults or amounts. There can be no assurance as to the timing or outcome of these discussions. The Company continues to work with its advisors to address its listing compliance matters and broader restructuring considerations in an orderly manner.