ScanTech AI Systems files quarterly report, implements reverse stock split

ScanTech AI Systems Inc. (NASDAQ: STAI) filed its quarterly report for the period ended September 30, 2025, bringing its periodic reporting current and addressing a delinquent filing condition previously identified by Nasdaq.

The Atlanta-based security screening technology company also approved a 1-for-20 reverse stock split of its common stock, effective after market close on December 15, 2025. Trading on a split-adjusted basis is expected to commence December 16, 2025.

Nasdaq Staff issued a delisting determination on November 26, 2025. ScanTech AI requested a hearing before a Nasdaq Hearings Panel, scheduled for January 22, 2026. The company's securities remain listed and trading pending completion of the hearings process, according to Nasdaq listing rules.

The reverse stock split is intended to address Nasdaq's minimum bid price requirement. The company has also submitted an application to transfer its listing from The Nasdaq Global Market to The Nasdaq Capital Market.

Over the past four months, ScanTech AI has filed amended periodic reports, engaged external advisors with capital markets expertise, and enhanced internal oversight processes related to financial reporting and governance matters.

"We have taken deliberate and substantive steps to address our Nasdaq compliance challenges and to restore procedural discipline across our reporting and governance processes," said CEO Dolan Falconer.

The company stated it continues to work with Nasdaq and intends to present its compliance plan at the scheduled hearing. ScanTech AI noted there is no assurance the Nasdaq Hearings Panel will grant additional time to regain compliance or that the company will ultimately maintain its listing.

ScanTech AI develops AI-powered security screening technology for airports, seaports, government buildings and other facilities.

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