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Investing.com -- ScanTech AI Systems Inc. (NASDAQ:STAI) stock dropped 6.7% in after-hours trading Tuesday after the company disclosed it received a delisting notice from Nasdaq due to non-compliance with listing requirements.
The AI-powered security screening systems developer was notified on November 26 that its securities are subject to delisting from the Nasdaq Global Market. The company failed to maintain the minimum $50 million market value of listed securities required under Nasdaq rules, despite being given a 180-day compliance period that ended November 23.
ScanTech has requested a hearing before the Nasdaq Hearings Panel and received an automatic 15-day stay of suspension related to its failure to file timely quarterly reports. The company has also applied to transfer its listing to the Nasdaq Capital Market, where the market value requirement is lower at $35 million.
The delisting notice cited additional compliance issues, including the company’s failure to file its quarterly reports for the periods ended June 30 and September 30, 2025. ScanTech stated it has since filed amended reports for earlier quarters and expects to file its September 30 report "as soon as practicable."
Despite the notice, ScanTech emphasized that the potential delisting does not affect its day-to-day business operations, and the company remains "committed to maintaining its Nasdaq listing and continuing to execute its operational and strategic initiatives."
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