ScanTech (STAI, Financial) has recently disclosed that it received a notification from Nasdaq regarding non-compliance with Listing Rule 5250(c)(1). This rule mandates timely submission of the company's annual financial report to the U.S. Securities and Exchange Commission (SEC).
The issue arose because ScanTech failed to file its Form 10-K for the fiscal year ending December 31, 2024, within the prescribed timeframe. Despite this setback, there is no immediate threat to the company's listing status on Nasdaq. ScanTech's common stock will continue to be traded as usual while the company addresses the reporting delay.
The company is actively working to resolve this compliance matter by completing and submitting the overdue financial report. Meanwhile, ScanTech aims to maintain transparency with its investors and trading partners throughout the process.
