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ScanTech AI Systems Inc. announced the completion of its business combination with Mars Acquisition Corp. (MARX) on January 2, 2025. The company's common stock will begin trading on the Nasdaq Global Market under the ticker symbol 'STAI' on January 3, 2025.
The business combination, approved by Mars shareholders on December 12, 2024, positions ScanTech AI to expand its non-intrusive fixed-gantry CT screening technologies. The company aims to enhance its market presence, pursue innovation, and make its technology more accessible and intelligent.
The transition to becoming a public company is expected to enable ScanTech AI to capitalize on new growth opportunities and scale its operations globally. The company will focus on capturing potential in an expanding total addressable market while furthering its portfolio development.
Mars Acquisition Corp (Nasdaq: MARX) announced the adjournment of its extraordinary general meeting from December 5 to December 12, 2024, at 10:00 a.m. Eastern Time. The meeting will discuss key proposals including the business combination with ScanTech Identification Beam Systems, advisory charter proposals, equity incentive plan, and Nasdaq proposals. The meeting will be held both virtually and in person at Mars' New York office. The company has extended the deadline for public shareholders to submit shares for redemption to December 10, 2024, at 5:00 p.m. Eastern Time. The record date remains October 24, 2024.
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