ScanTech AI Systems Inc. Announces Nasdaq Delisting Determination, Pending Trading Suspension, and Intent to Seek OTCQB Quotation

Core Viewpoint - ScanTech AI Systems Inc. is facing potential delisting from Nasdaq due to non-compliance with listing requirements, specifically regarding market value and periodic filing obligations [2][3]. Group 1: Nasdaq Compliance Issues - On February 4, 2026, ScanTech AI received a deficiency notice from Nasdaq indicating that its market value of publicly held shares (MVPHS) was below the required $15 million for 30 consecutive business days [2]. - The company has a 180-day compliance period until August 3, 2026, to regain compliance by maintaining an MVPHS of at least $15 million for ten consecutive business days [2]. - On February 6, 2026, the Nasdaq Hearing Panel denied the company's request for continued listing, citing non-compliance with Nasdaq Listing Rules 5250(c)(1) and 5450(b)(2)(A) [3]. Group 2: Next Steps and Alternatives - The company has 15 days from the receipt of the determination letter to request a review of the Panel's decision by the Nasdaq Listing and Hearing Review Council [4]. - ScanTech AI is evaluating options, including submitting a request for review, which could lead to various outcomes such as affirmation or reversal of the Panel's decision [4]. - Concurrently, the company plans to apply for its common stock to be quoted on the OTCQB Venture Market, although there is no guarantee of meeting eligibility requirements [5]. Group 3: Company Overview - ScanTech AI Systems Inc. specializes in advanced AI-powered security screening and imaging technologies, particularly in non-intrusive 'fixed-gantry' CT screening [6]. - The company's technology is designed to detect hazardous materials and contraband, with applications in various high-security environments such as airports, seaports, and government buildings [6].