ScanTech AI Systems receives Nasdaq notice for minimum market value deficiency

ScanTech AI Systems Inc. (NASDAQ:STAI), whose stock has plummeted 94% over the past year and currently trades near its 52-week low of $0.58, announced it received a deficiency letter from the Nasdaq Listing Qualifications Department on Wednesday, notifying the company that it is not in compliance with Nasdaq Listing Rule 5450(b)(2)(C), which requires a minimum market value of publicly held shares (MVPHS) of $15 million.

According to the company’s statement in a Securities and Exchange Commission filing, Nasdaq determined that ScanTech AI Systems failed to meet the MVPHS requirement for the 30 consecutive business days ending July 28, 2025.

The notice does not have an immediate effect on the listing or trading of ScanTech AI Systems’ common stock on the Nasdaq Global Market. The company has 180 calendar days, or until January 26, 2026, to regain compliance. To do so, its MVPHS must close at $15 million or more for at least 10 consecutive business days within the compliance period.

If ScanTech AI Systems does not regain compliance by the end of the 180-day period, it will receive written notification from Nasdaq stating that its securities are subject to delisting. The company may appeal the determination to a Nasdaq Hearings Panel or apply to transfer its listing to the Nasdaq Capital Market if it meets the continued listing requirements for that market.

This information is based on a press release statement included in the company’s filing with the Securities and Exchange Commission.

In other recent news, ScanTech AI Systems Inc. announced it has filed its delayed Quarterly Report on Form 10-Q for the quarter ended March 31, 2025, with the U.S. Securities and Exchange Commission. This filing is expected to address the company’s noncompliance with Nasdaq Listing Rule 5250(c)(1). Additionally, ScanTech AI has received a deficiency notice from Nasdaq for not maintaining the minimum bid price requirement of $1.00 per share. The notice stated that the company’s stock price remained below this threshold for 30 consecutive business days.

In another development, ScanTech AI has entered a strategic partnership with Creeksource Consulting LLC, allowing its security screening technologies to be offered through The Interlocal Purchasing System (TIPS). This partnership potentially streamlines procurement for government entities, educational institutions, municipalities, and nonprofits. Furthermore, ScanTech AI signed a non-binding Letter of Intent with Visiontec Systems Ltd. for the planned purchase of additional SENTINEL Fixed Gantry CT inspection systems, intended for use at a nuclear power facility. The value of these planned deployments is estimated to exceed $1 million, building on a previous $3.5 million engagement.

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