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Seaport Global Asset Management LLC, a ten percent owner of ScanTech AI Systems Inc. (NASDAQ:STAI), sold 115,000 shares of common stock on September 19, 2025, at $0.5076 per share, totaling $58,374. The sale comes as STAI shares have plummeted 95% over the past year, with the company’s market cap now at $32.76 million. According to InvestingPro analysis, the company shows concerning signs of rapid cash burn and weak financial health.
Following the transaction, Seaport Global Asset Management LLC directly owns 16,427,973 shares. The shares are held directly by Seaport Group SIBS LLC, which is managed by Seaport Global Asset Management LLC. Stephen C. Smith is the manager of Seaport Global Asset Management LLC. For comprehensive insider trading analysis and 11 additional key insights about STAI, unlock full access with InvestingPro.
In other recent news, ScanTech AI Systems Inc. has filed its Quarterly Report on Form 10-Q for the period ending June 30, 2025. This filing is part of the company’s ongoing efforts to regain compliance with Nasdaq listing requirements. To assist in this endeavor, ScanTech AI has engaged FSR Capital for specialized advisory services in capital markets, Nasdaq compliance, and SEC reporting. Additionally, the company announced changes in its board of directors, with Thomas McMillen resigning and Michael McGarrity being appointed as the new chair of the Nominating and Corporate Governance Committee. Bradley Buswell has also joined the Audit Committee to fill the vacancy left by McMillen. In terms of product development, ScanTech AI has partnered with Curie Technologies to integrate Curie’s software platform into its SENTINEL CT screening systems, enhancing service delivery. The company also introduced a new AI-powered software upgrade for its SENTINEL CT systems, aimed at improving checkpoint operations and operator experience. These developments reflect the company’s strategic moves to address regulatory challenges and enhance its product offerings.
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