- ScanTech AI Systems (STAI, Financial) receives Nasdaq deficiency letter over delayed 2024 Annual Report filing.
- Company given 60 days to submit compliance plan, with potential 180-day extension if accepted.
- No immediate effect on STAI's Nasdaq listing; aims to file the report by May 5, 2025.
ScanTech AI Systems Inc. (STAI), a leader in next-generation checkpoint security scanning technology, announced it has received a deficiency letter from Nasdaq. The letter, dated April 17, 2025, notes the company's failure to timely file its 2024 Annual Report, Form 10-K, with the U.S. Securities and Exchange Commission.
While the notice does not immediately affect ScanTech AI's listing on the Nasdaq Global Market, it requires the company to submit a compliance plan within 60 calendar days. This plan aims to address the filing deficiency and regain compliance with Nasdaq Listing Rule 5250(c)(1).
ScanTech AI has expressed its intent to file the overdue Annual Report by May 5, 2025. If Nasdaq accepts the compliance plan, the company may be granted up to 180 calendar days, until October 13, 2025, to regain full compliance.
Founded as an innovator in "fixed-gantry" checkpoint security scanners, ScanTech AI serves various sectors including airports and public events, ensuring high-security standards with low acquisition and maintenance costs. Despite the delay, the company remains committed to resolving its compliance issues promptly and efficiently.
