ScanTech AI Systems Inc. Initiates Appeal Process with Nasdaq; Automatic Stay Provided

Core Viewpoint - ScanTech AI Systems Inc. is appealing a Nasdaq delisting determination, with a hearing scheduled for January 22, 2026, while its stock remains traded on Nasdaq during the stay period until December 17, 2025 [1][2]. Group 1: Nasdaq Delisting Appeal - The company has requested an extension of the stay period until the outcome of the January 22, 2026 hearing is finalized [2]. - Nasdaq Rule 5815(a)(1)(B)(i) states that the automatic stay for delisting determinations related to delinquent filings is limited to 15 days unless an extension is granted [3]. - The company has filed amended periodic filings for March 31, 2025, and June 30, 2025, and is on track to file the September 30, 2025 report within the stay period [3]. Group 2: Compliance Plan - The company plans to present a comprehensive compliance plan to the Nasdaq Hearings Panel to address both MVLS requirements and recent filing deficiencies [4]. - Management is confident in the company's ability to demonstrate a clear path to full compliance, although success in the hearing is not guaranteed [4]. Group 3: Business Operations - The Nasdaq process does not affect the company's day-to-day operations, customer commitments, or ongoing strategic initiatives [5]. Group 4: Company Overview - ScanTech AI has developed advanced non-intrusive 'fixed-gantry' CT screening technologies that utilize AI and machine learning to detect hazardous materials and contraband [6]. - The company's solutions are designed for high-security environments such as airports, seaports, borders, and government buildings [6].