STOCK TITAN

[8-K] – ScanTech AI Systems Inc. (STAI) (CIK 0001994624)

Filing Impact
(Moderate)
Filing Sentiment
(Neutral)
Form Type
8-K

ScanTech AI Systems Inc. (STAI) reported receiving default-related notices from two creditors and adopted amended bylaws. SPCC asserted that the Company’s October 8, 2025 Purchase Agreement violated covenants under a senior secured note of up to $1,500,000 (15% interest, maturing July 3, 2026). Per the SPCC notice, default interest of 18% began on September 11, 2025, citing accrued interest of $15,283, a balance of $1,083,922 as of September 10, 2025, a mandatory repayment amount of $1,625,883 as of October 10, 2025, and an increase in conversion discount from 20% to 45%. The Company disputes these assertions.

The Company also received a notice from Polar regarding a $1,250,000 note, asserting the settlement is void due to unregistered shares by August 1, 2025, that the note matured on that date, and that it has been accruing 18% interest since then. The Company is reviewing and may dispute these claims. It cautioned that failure to resolve could have a material adverse effect.

The Board approved amended bylaws, including a stockholder quorum of at least one-third in voting power, and set the 2025 Annual Meeting for November 21, 2025 with record date October 14, 2025. Stockholder proposal deadlines are October 24–25, 2025 per the described rules.

ScanTech AI Systems Inc. (STAI) ha riferito di aver ricevuto avvisi relativi a inadempienze da due creditori e ha adottato statuti modificati. SPCC ha sostenuto che l’accordo di acquisto del 8 ottobre 2025 della Società violi i patti relativi a una nota garantita senior fino a $1,500,000 (interessi al 15%, scadenza 3 luglio 2026). Secondo l’avviso SPCC, gli interessi di mora al tasso dell’18% sono iniziati il 11 settembre 2025, citando interessi maturati di $15,283, un saldo di $1,083,922 al 10 settembre 2025, un importo di rimborso obbligatorio di $1,625,883 al 10 ottobre 2025 e un incremento nello sconto di conversione da 20% a 45%. La Società contesta queste affermazioni.

La Società ha anche ricevuto una notifica da Polar relativa a una nota di $1,250,000, affermando che l’accordo è nullo a causa di azioni non registrate entro l’1 agosto 2025, che la nota è scaduta in tale data, e che ha maturato interessi al tasso dell’18% da allora. La Società sta esaminando e potrebbe contestare tali pretese. Avverte che il mancato risoluzione potrebbe avere un effetto sostanzialmente avverso.

Il Consiglio ha approvato statuti modificati, tra cui un quorum di azionisti di almeno un terzo in potere di voto, e ha fissato l’Assemblea Annuale 2025 per il 21 novembre 2025 con data di registrazione 14 ottobre 2025. Le scadenze delle proposte degli azionisti sono 24–25 ottobre 2025 secondo le regole descritte.

ScanTech AI Systems Inc. (STAI) informó haber recibido avisos de incumplimiento de dos acreedores y adoptó estatutos enmendados. SPCC afirmó que el Acuerdo de Compra de la empresa del 8 de octubre de 2025 violó convenios bajo una nota garantizada senior de hasta $1,500,000 (interés del 15%, vence el 3 de julio de 2026). Según el aviso de SPCC, los intereses de mora del 18% comenzaron el 11 de septiembre de 2025, citando intereses acumulados de $15,283, un saldo de $1,083,922 al 10 de septiembre de 2025, una cantidad de reembolso obligatorio de $1,625,883 al 10 de octubre de 2025 y un incremento en el descuento de conversión de 20% a 45%. La Compañía disputa estas afirmaciones.

La Compañía también recibió una notificación de Polar respecto a una nota de $1,250,000, alegando que el Acuerdo es nulo debido a acciones no registradas para el 1 de agosto de 2025, que la nota venció en esa fecha y que ha estado acumulando intereses del 18% desde entonces. La Compañía está revisando y puede impugnar estas reclamaciones. Advirtió que no resolverlo podría tener un efecto adverso sustancial.

La Junta aprobó estatutos enmendados, incluyendo un quórum de accionistas de al menos un tercio con poder de voto, y fijó la Reunión Anual 2025 para el 21 de noviembre de 2025 con fecha de registro el 14 de octubre de 2025. Las fechas límite para las propuestas de accionistas son 24–25 de octubre de 2025 conforme a las reglas descritas.

ScanTech AI Systems Inc. (STAI)가 두 채권자로부터 채무 불이행 관련 통지를 받고 수정된 내규를 채택했다고 발표했습니다. SPCC는 회사의 2025년 10월 8일 매매계약이 $1,500,000까지의 선순위 담보어음의 약정들을 위반했다고 주장했습니다(이자 15%, 만기 2026년 7월 3일). SPCC 통지에 따르면 채무 불이행 이자율 18%가 2025년 9월 11일에 시작되었으며, 누적 이자 $15,283, 2025년 9월 10일 기준 잔액 $1,083,922, 2025년 10월 10일 기준 의무상 상환 금액 $1,625,883, 변환 할인율이 20%에서 45%로 증가했다는 내용이 인용되었습니다. 회사는 이러한 주장에 이의를 제기합니다.

또한 회사는 Polar로부터 $1,250,000의 채권에 대한 통지를 받았으며, 2025년 8월 1일까지 등록되지 않은 주식으로 인해 합의가 무효이며, 그 날짜에 채권이 만기되었고 그 이후로 18%의 이자가 누적되고 있다고 주장합니다. 회사는 이를 검토 중이며 이 주장에 이의를 제기할 수 있습니다. 해결 실패 시 실질적으로 악영향을 미칠 수 있다고 경고했습니다.

이사회는 주주 의결권이 최소 3분의 1 이상인 주주 명부 총회를 포함한 수정된 내규를 승인했고, 2025년 연례 총회를 2025년 11월 21일로, 기록일은 2025년 10월 14일로 정했습니다. 주주 제안 마감일은 규칙에 따라 2025년 10월 24–25일입니다.

ScanTech AI Systems Inc. (STAI) a annoncé avoir reçu des avis de défaut de la part de deux créanciers et avoir adopté des statuts modifiés. SPCC a soutenu que l’accord d’achat de la société du 8 octobre 2025 violait les covenants d’une note garantie senior d’un montant pouvant atteindre 1 500 000 $ (intérêt 15 %, échéance le 3 juillet 2026). Selon l’avis SPCC, les intérêts de défaut au taux de 18 % ont commencé le 11 septembre 2025, citant des intérêts accumulés de 15 283 $, un solde de 1 083 922 $ au 10 septembre 2025, un montant de remboursement obligatoire de 1 625 883 $ au 10 octobre 2025 et une augmentation du taux de conversion de 20 % à 45 %. La Société conteste ces affirmations.

La Société a également reçu un avis de Polar concernant une note de 1 250 000 $, affirmant que l’accord est nul en raison d’actions non enregistrées au plus tard le 1er août 2025, que la note a été mûre à cette date, et qu’elle a accumulé des intérêts de 18 % depuis lors. La Société examine ces affirmations et pourrait les contester. Elle a averti que l’absence de résolution pourrait avoir un effet défavorable important.

Le Conseil d’administration a approuvé des statuts modifiés, y compris un quorum d’actionnaires d’au moins un tiers des droits de vote, et a fixé l’Assemblée annuelle 2025 au 21 novembre 2025 avec une date d’enregistrement 14 octobre 2025. Les dates limites des propositions des actionnaires sont 24–25 octobre 2025 conformément aux règles décrites.

ScanTech AI Systems Inc. (STAI) meldete, Aufsichtsmitteilungen von zwei Gläubigern wegen eines Zahlungsausfalls erhalten zu haben und nahm geänderte Statuten an. SPCC behauptete, dass die Kaufvereinbarung vom 8. Oktober 2025 der Gesellschaft gegen die Bestimmungen einer Senior-Sicherungsnote in Höhe von bis zu $1,500,000 (Zinsen 15%, Fälligkeit 3. Juli 2026) verstoßen habe. Laut SPCC-Mitteilung begannen die Verzugzinsen von 18% am 11. September 2025, mit angeführten aufgelaufenen Zinsen von $15,283, einem Saldo von $1,083,922 zum 10. September 2025, einem verpflichtenden Rückzahlungsbetrag von $1,625,883 zum 10. Oktober 2025 und einer Erhöhung des Wandlungsvorteils von 20% auf 45%. Das Unternehmen bestreitet diese Behauptungen.

Das Unternehmen erhielt auch eine Mitteilung von Polar bezüglich einer Note über $1,250,000, die geltend macht, dass die Einigung aufgrund nicht registrierter Aktien bis zum 1. August 2025 ungültig ist, dass die Note an diesem Datum fällig wurde und dass seitdem Zinsen von 18% angefallen sind. Das Unternehmen prüft diese Ansprüche und könnte sie bestreiten. Es warnte davor, dass ein Versäumnis der Klärung erhebliche nachteilige Auswirkungen haben könnte.

Der Vorstand genehmigte geänderte Statuten, einschließlich eines Aktionärs-Quorums von mindestens einem Drittel der Stimmrechte, und setzte die Jahresversammlung 2025 auf den 21. November 2025 mit dem Bilanzstichtag 14. Oktober 2025. Fristen für Vorschläge der Aktionäre sind gemäß den beschriebenen Regeln 24.–25. Oktober 2025.

أعلنت شركة ScanTech AI Systems Inc. (STAI) أنها تلقت إشعارات تتعلق بالتقصير من دائنين اثنين وتبنت قوانين معدلة. وزعمت SPCC أن اتفاقية شراء الشركة بتاريخ 8 أكتوبر 2025 انتهكت المواثيق بموجب سند مضمـون ذو امتياز أول حتى مبلغ $1,500,000 (فائدة 15%، يستحق في 3 يوليو 2026). وبحسب إشعار SPCC، بدأت فائدة التأخر على نحو 18% اعتباراً من 11 سبتمبر 2025، مع ذكر فوائد متراكمة قدرها $15,283 ورصيد قدره $1,083,922 اعتباراً من 10 سبتمبر 2025، ومبلغ سداد إلزامي قدره $1,625,883 اعتباراً من 10 أكتوبر 2025، وارتفاع في خصم التحويل من 20% إلى 45%. وتعارض الشركة هذه الادعاءات.

كما تلقت الشركة إشعاراً من Polar بخصوص سند بقيمة $1,250,000، مدعية أن التسوية باطلة بسبب وجود أسهم غير مسجلة حتى 1 أغسطس 2025، وأن السند استحق في ذلك التاريخ، وأنها قد أ累ت فائدة قدرها 18% منذ ذلك الحين. الشركة تراجع هذه الادعاءات وقد تعترض عليها. وحذرت من أن الفشل في الحل قد يترتب عليه أثر سلبي مادي.

وافق المجلس على قوانين معدلة، بما في ذلك وجود نصاب عادل للمساهمين لا يقل عن الثلث في سلطات التصويت، وحدد اجتماع الجمعية السنوي 2025 ليكون في 21 نوفمبر 2025 مع تاريخ التسجيل 14 أكتوبر 2025. تتضمن المهلة المحددة لتقديم مقترحات المساهمين 24–25 أكتوبر 2025 وفقاً للقواعد الموصوفة.

ScanTech AI Systems Inc.(STAI)报告收到来自两名债权人的违约通知并通过了修订后的公司章程。 SPCC 指出,该公司于 2025 年 10 月 8 日的购买协议违反了高等级担保票据的契约,金额最高可达 $1,500,000(利率 15%,到期日2026年7月3日)。根据 SPCC 的通知,违约利息为 18%,自 2025 年 9 月 11 日起生效,引用累计利息 $15,283,截至 2025 年 9 月 10 日的余额为 $1,083,922,截至 2025 年 10 月 10 日的强制还款金额为 $1,625,883,并且转换折扣从 20% 增至 45%。公司对这些主张表示异议。

公司还收到 Polar 的通知,涉及金额为 $1,250,000 的票据,声称由于在 2025 年 8 月 1 日前未注册股份,和该票据在该日期到期,并且自此以来一直按 18% 的利息累计。公司正在审查并可能对这些主张提出异议。若未解决,可能对公司产生重大不利影响。

董事会批准修订后的章程,其中包括至少三分之一表决权的股东法定人数,并将 2025 年年度股东大会定于 2025 年 11 月 21 日,记录日期为 2025 年 10 月 14 日。股东提案的截止日期按规定为 2025 年 10 月 24–25 日

Positive
  • None.
Negative
  • Creditor notices assert defaults with claimed mandatory repayment of $1,625,883 at 18% default interest, potentially pressuring liquidity.
  • Polar asserts a $1,250,000 note matured and accrues 18% interest since August 1, 2025, adding to cash obligations.

Insights

Default notices raise liquidity risk; bylaws updated and meeting set.

STAI disclosed two creditor notices asserting defaults and accelerated or enhanced obligations. SPCC cites a senior secured note of up to $1,500,000 with claimed default interest at 18%, a balance of $1,083,922 as of September 10, 2025, and a mandatory repayment amount of $1,625,883 as of October 10, 2025. Polar’s notice concerns a $1,250,000 note, asserting maturity on August 1, 2025 and interest at 18% since then.

The Company states it does not agree with these assertions and is reviewing its agreements. Still, the disclosures indicate potential near‑term cash claims and higher effective costs if enforced. The filing warns unresolved issues could materially affect liquidity, financial condition, and results.

Separately, governance updates include amended bylaws (quorum: at least one‑third voting power), the 2025 Annual Meeting on November 21, 2025, and proposal/nomination deadlines on October 24–25, 2025. Actual financial impact depends on outcomes of discussions or disputes with the creditors.

ScanTech AI Systems Inc. (STAI) ha riferito di aver ricevuto avvisi relativi a inadempienze da due creditori e ha adottato statuti modificati. SPCC ha sostenuto che l’accordo di acquisto del 8 ottobre 2025 della Società violi i patti relativi a una nota garantita senior fino a $1,500,000 (interessi al 15%, scadenza 3 luglio 2026). Secondo l’avviso SPCC, gli interessi di mora al tasso dell’18% sono iniziati il 11 settembre 2025, citando interessi maturati di $15,283, un saldo di $1,083,922 al 10 settembre 2025, un importo di rimborso obbligatorio di $1,625,883 al 10 ottobre 2025 e un incremento nello sconto di conversione da 20% a 45%. La Società contesta queste affermazioni.

La Società ha anche ricevuto una notifica da Polar relativa a una nota di $1,250,000, affermando che l’accordo è nullo a causa di azioni non registrate entro l’1 agosto 2025, che la nota è scaduta in tale data, e che ha maturato interessi al tasso dell’18% da allora. La Società sta esaminando e potrebbe contestare tali pretese. Avverte che il mancato risoluzione potrebbe avere un effetto sostanzialmente avverso.

Il Consiglio ha approvato statuti modificati, tra cui un quorum di azionisti di almeno un terzo in potere di voto, e ha fissato l’Assemblea Annuale 2025 per il 21 novembre 2025 con data di registrazione 14 ottobre 2025. Le scadenze delle proposte degli azionisti sono 24–25 ottobre 2025 secondo le regole descritte.

ScanTech AI Systems Inc. (STAI) informó haber recibido avisos de incumplimiento de dos acreedores y adoptó estatutos enmendados. SPCC afirmó que el Acuerdo de Compra de la empresa del 8 de octubre de 2025 violó convenios bajo una nota garantizada senior de hasta $1,500,000 (interés del 15%, vence el 3 de julio de 2026). Según el aviso de SPCC, los intereses de mora del 18% comenzaron el 11 de septiembre de 2025, citando intereses acumulados de $15,283, un saldo de $1,083,922 al 10 de septiembre de 2025, una cantidad de reembolso obligatorio de $1,625,883 al 10 de octubre de 2025 y un incremento en el descuento de conversión de 20% a 45%. La Compañía disputa estas afirmaciones.

La Compañía también recibió una notificación de Polar respecto a una nota de $1,250,000, alegando que el Acuerdo es nulo debido a acciones no registradas para el 1 de agosto de 2025, que la nota venció en esa fecha y que ha estado acumulando intereses del 18% desde entonces. La Compañía está revisando y puede impugnar estas reclamaciones. Advirtió que no resolverlo podría tener un efecto adverso sustancial.

La Junta aprobó estatutos enmendados, incluyendo un quórum de accionistas de al menos un tercio con poder de voto, y fijó la Reunión Anual 2025 para el 21 de noviembre de 2025 con fecha de registro el 14 de octubre de 2025. Las fechas límite para las propuestas de accionistas son 24–25 de octubre de 2025 conforme a las reglas descritas.

ScanTech AI Systems Inc. (STAI)가 두 채권자로부터 채무 불이행 관련 통지를 받고 수정된 내규를 채택했다고 발표했습니다. SPCC는 회사의 2025년 10월 8일 매매계약이 $1,500,000까지의 선순위 담보어음의 약정들을 위반했다고 주장했습니다(이자 15%, 만기 2026년 7월 3일). SPCC 통지에 따르면 채무 불이행 이자율 18%가 2025년 9월 11일에 시작되었으며, 누적 이자 $15,283, 2025년 9월 10일 기준 잔액 $1,083,922, 2025년 10월 10일 기준 의무상 상환 금액 $1,625,883, 변환 할인율이 20%에서 45%로 증가했다는 내용이 인용되었습니다. 회사는 이러한 주장에 이의를 제기합니다.

또한 회사는 Polar로부터 $1,250,000의 채권에 대한 통지를 받았으며, 2025년 8월 1일까지 등록되지 않은 주식으로 인해 합의가 무효이며, 그 날짜에 채권이 만기되었고 그 이후로 18%의 이자가 누적되고 있다고 주장합니다. 회사는 이를 검토 중이며 이 주장에 이의를 제기할 수 있습니다. 해결 실패 시 실질적으로 악영향을 미칠 수 있다고 경고했습니다.

이사회는 주주 의결권이 최소 3분의 1 이상인 주주 명부 총회를 포함한 수정된 내규를 승인했고, 2025년 연례 총회를 2025년 11월 21일로, 기록일은 2025년 10월 14일로 정했습니다. 주주 제안 마감일은 규칙에 따라 2025년 10월 24–25일입니다.

ScanTech AI Systems Inc. (STAI) a annoncé avoir reçu des avis de défaut de la part de deux créanciers et avoir adopté des statuts modifiés. SPCC a soutenu que l’accord d’achat de la société du 8 octobre 2025 violait les covenants d’une note garantie senior d’un montant pouvant atteindre 1 500 000 $ (intérêt 15 %, échéance le 3 juillet 2026). Selon l’avis SPCC, les intérêts de défaut au taux de 18 % ont commencé le 11 septembre 2025, citant des intérêts accumulés de 15 283 $, un solde de 1 083 922 $ au 10 septembre 2025, un montant de remboursement obligatoire de 1 625 883 $ au 10 octobre 2025 et une augmentation du taux de conversion de 20 % à 45 %. La Société conteste ces affirmations.

La Société a également reçu un avis de Polar concernant une note de 1 250 000 $, affirmant que l’accord est nul en raison d’actions non enregistrées au plus tard le 1er août 2025, que la note a été mûre à cette date, et qu’elle a accumulé des intérêts de 18 % depuis lors. La Société examine ces affirmations et pourrait les contester. Elle a averti que l’absence de résolution pourrait avoir un effet défavorable important.

Le Conseil d’administration a approuvé des statuts modifiés, y compris un quorum d’actionnaires d’au moins un tiers des droits de vote, et a fixé l’Assemblée annuelle 2025 au 21 novembre 2025 avec une date d’enregistrement 14 octobre 2025. Les dates limites des propositions des actionnaires sont 24–25 octobre 2025 conformément aux règles décrites.

ScanTech AI Systems Inc. (STAI) meldete, Aufsichtsmitteilungen von zwei Gläubigern wegen eines Zahlungsausfalls erhalten zu haben und nahm geänderte Statuten an. SPCC behauptete, dass die Kaufvereinbarung vom 8. Oktober 2025 der Gesellschaft gegen die Bestimmungen einer Senior-Sicherungsnote in Höhe von bis zu $1,500,000 (Zinsen 15%, Fälligkeit 3. Juli 2026) verstoßen habe. Laut SPCC-Mitteilung begannen die Verzugzinsen von 18% am 11. September 2025, mit angeführten aufgelaufenen Zinsen von $15,283, einem Saldo von $1,083,922 zum 10. September 2025, einem verpflichtenden Rückzahlungsbetrag von $1,625,883 zum 10. Oktober 2025 und einer Erhöhung des Wandlungsvorteils von 20% auf 45%. Das Unternehmen bestreitet diese Behauptungen.

Das Unternehmen erhielt auch eine Mitteilung von Polar bezüglich einer Note über $1,250,000, die geltend macht, dass die Einigung aufgrund nicht registrierter Aktien bis zum 1. August 2025 ungültig ist, dass die Note an diesem Datum fällig wurde und dass seitdem Zinsen von 18% angefallen sind. Das Unternehmen prüft diese Ansprüche und könnte sie bestreiten. Es warnte davor, dass ein Versäumnis der Klärung erhebliche nachteilige Auswirkungen haben könnte.

Der Vorstand genehmigte geänderte Statuten, einschließlich eines Aktionärs-Quorums von mindestens einem Drittel der Stimmrechte, und setzte die Jahresversammlung 2025 auf den 21. November 2025 mit dem Bilanzstichtag 14. Oktober 2025. Fristen für Vorschläge der Aktionäre sind gemäß den beschriebenen Regeln 24.–25. Oktober 2025.

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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

FORM 8-K

 

CURRENT REPORT

 

Pursuant to Section 13 or Section 15(d) of the Securities Exchange Act of 1934

 

Date of Report (Date of earliest event reported): August 1, 2025

 

ScanTech AI Systems Inc.

(Exact name of registrant as specified in its charter)

 

Delaware   001-42463   93-3502562

(State or other jurisdiction

of incorporation)

 

(Commission

File Number)

  (I.R.S. Employer
Identification No.)

 

1735 Enterprise Drive

Buford, Georgia

  30518
(Address of principal executive offices)   (Zip Code)

 

+1 (470) 655-0886

(Registrant’s telephone number, including area code)

 

Not Applicable

(Former name or former address, if changed since last report)

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation to the registrant under any of the following provisions:

 

¨ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

 

¨ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

 

¨ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

 

¨ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 

Securities registered pursuant to Section 12(b) of the Act:

 

Title of each class   Trading
Symbol(s)
  Name of each exchange on which registered
Common Stock, par value $0.0001 per share   STAI   The Nasdaq Stock Market LLC

 

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

 

Emerging growth company x

 

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ¨

 

 

 

 

 

 

Item 1.02.Termination of a Material Definitive Agreement.

 

To the extent required by this Item 1.02, the information set forth under Item 2.04 is incorporated by reference into this Item 1.02.

 

Item 2.04.Triggering Events That Accelerate or Increase a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement.

 

Notice from SPCC

 

As previously disclosed, ScanTech AI Systems Inc. (the “Company”) entered into a Securities Purchase Agreement with 340 Broadway Holdings, LLC (“340 Broadway”), effective as of July 3, 2025, pursuant to the terms of which the Company issued a senior secured promissory note (the “340 Broadway/SPCC Note”) to 340 Broadway with a total principal amount of up to $1,500,000 which bears interest at an annual rate of 15% and matures on July 3, 2026. 340 Broadway subsequently assigned a portion of the 340 Broadway/SPCC Note to Southern Point Capital Corporation (“SPCC”).

 

On October 10, 2025, the Company received written notice (the “SPCC Notice”) from SPCC that asserted that the terms of the Purchase Agreement entered into by the Company and ARC Group International Ltd. on October 8, 2025 (the “Purchase Agreement”) violated the covenants of the 340 Broadway/SPCC Note, constitute an “Event of Default” under the 340 Broadway/SPCC Note, and trigger mandatory repayment of the 340 Broadway/SPCC Note under Clause 2.12 of the 340 Broadway/SPCC Note. The SPCC Notice further asserted that (i) the 340 Broadway/SPCC Note accrued default interest at a rate of 18% per annum beginning on September 11, 2025 and the accrued interest since September 11, 2025 totals $15,283, resulting in a current balance as of September 10, 2025 of $1,083,922; (ii) the mandatory repayment amount equals $1,625,883 as of October 10, 2025, and will continue to accrue interest at the 18% default rate; and (iii) the conversion discount underlying the 340 Broadway/SPCC Note of 20% was to be increased to 45% for all future conversions.

 

The Company is providing the disclosure in this Current Report on Form 8-K relating to the SPCC Notice to comply with the Company’s filing requirements with the U.S. Securities and Exchange Commission (the “SEC”) but does not by virtue hereof admit that the Company agrees with any assertion or figure contained in the SPCC Notice. The Company is reviewing the SPCC Notice and the 340 Broadway/SPCC Note and its amendments in their entirety, and reserves the right to dispute the assertions, figures, and claims made in the SPCC Notice. If the Company is unable to resolve the assertions in the SPCC Notice, it could have a material adverse effect on the Company’s liquidity, financial condition, and results of operations.

 

Notice from Polar

 

As previously disclosed, on April 29, 2025, the Company, ScanTech Identification Beam Systems, LLC (“SIBS”), and Polar Multi-Strategy Master Fund (“Polar”) entered into a subscription and settlement agreement (the “Polar Subscription and Settlement Agreement”) related to a promissory note dated December 31, 2024 with a principal amount of $1,250,000 (the “Polar Note”). On October 10, 2025, the Company received correspondence (the “Polar Notice”) from Polar that asserted that, because certain shares of the Company’s common stock issued under the Polar Subscription and Settlement Agreement had not been registered with the SEC by August 1, 2025, (i) the settlement is void and the Polar Note matured as of August 1, 2025, and (ii) the Polar Note is now in default and has been collecting interest at 18% since August 1, 2025.

 

The Company is providing the disclosure in this Current Report on Form 8-K relating to the Polar Notice to comply with the Company’s filing requirements with the SEC but does not by virtue hereof admit that the Company agrees with any assertion or figure contained in the Polar Notice. The Company is reviewing the Polar Notice, the Polar Note, and the Polar Subscription and Settlement Agreement in their entirety, and reserves the right to dispute the assertions and claims made in the Polar Notice. If the Company is unable to resolve the assertions in the Polar Default Notice, it could have a material adverse effect on the Company’s liquidity, financial condition, and results of operations.

 

 

 

 

Item 5.03 Amendments to Articles of Incorporation or Bylaws; Change in Fiscal Year.

 

On October 13, 2025, the Board of Directors (the “Board”) of the Company approved the First Amended and Restated Bylaws of the Company (the “Amended and Restated Bylaws”). The Amended and Restated Bylaws were amended to, among other revisions, (i) generally provide that a quorum at any meeting of stockholders is at least one-third in voting power of the outstanding shares of capital stock entitled to vote, present in person or represented by proxy, (ii) update how stockholders are to submit proposals or director nominations, and (iii) generally provide that the total number of directors constituting the Board shall be fixed from time to time by resolution of a majority of the directors then in office.

 

The foregoing description of the Amended and Restated Bylaws does not purport to be complete and is qualified in its entirety by reference to the full text of the Amended and Restated Bylaws, which is filed as Exhibit 3.1 to this Current Report on Form 8-K and incorporated by reference herein.

 

Item 5.08 Shareholder Director Nominations.

 

The Board of the Company has established November 21, 2025, as the date for the Company’s 2025 Annual Meeting of Stockholders (the “Annual Meeting”). The Board also established October 14, 2025, as the record date for the Annual Meeting. Due to the fact that the Company did not hold an annual meeting of stockholders in 2024, the Company is providing the due date for submission of any qualified stockholder proposal or director nominations.

 

Stockholders of the Company who wish to have a proposal considered for inclusion in the Company’s proxy materials for the 2025 Annual Meeting pursuant to Rule 14a-8 under the Securities Exchange Act of 1934 (the “Exchange Act”), must ensure that such proposal is received by the Company’s Secretary at its principal executive offices on or before the close of business on October 24, 2025, which the Company has determined to be a reasonable time before it expects to begin to print and send its proxy materials in accordance with Rule 14a-8(e) under the Exchange Act. Any such proposal must also meet the requirements set forth in the rules and regulations of the Securities and Exchange Commission in order to be eligible for inclusion in the proxy materials for the Annual Meeting.

 

In addition, in accordance with the requirements contained in the Company’s Amended and Restated Bylaws, stockholders of the Company who wish to bring business before the Annual Meeting outside of Rule 14a-8 of the Exchange Act or to nominate a person for election as a director must ensure that written notice of such proposal (including all information specified in the Company’s Amended and Restated Bylaws) is received by the Company’s Secretary at the Company’s principal executive offices no later than the close of business on October 25, 2025. You are also advised to review our Amended and Restated Bylaws, which contain a description of the information required to be submitted with notices of any such proposal or nomination as well as additional requirements about advance notice of stockholder proposals and director nominations.

 

In addition to satisfying the foregoing requirements under our Amended and Restated Bylaws, including advance notice of director nominations, to comply with the universal proxy rules, stockholders who intend to solicit proxies in support of director nominees other than Company nominees must, in addition to complying with the requirement of our Amended and Restated Bylaws, provide notice that sets forth the information required by Rule 14a-19 under the Exchange no later than October 25, 2025. Such notice may be mailed to the Corporate Secretary at 1735 Enterprise Drive, Buford, Georgia 30518.

 

Item 9.01. Financial Statements and Exhibits.

 

(d) Exhibits.

 

Exhibit No.   Description
3.1   First Amended and Restated Bylaws of ScanTech AI Systems Inc.
104   Cover Page Interactive Data File (embedded within the Inline XBRL document).

 

 

 

 

SIGNATURES

 

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 

Date: October 15, 2025 SCANTECH AI SYSTEMS INC.
   
  By: /s/ Dolan Falconer
  Name:   Dolan Falconer
  Title: Chief Executive Officer

 

 

 

 

FAQ

What did STAI disclose about creditor actions in this 8-K?

STAI received notices from SPCC and Polar asserting defaults and demanding amounts under a $1,500,000 note and a $1,250,000 note, respectively.

What amounts and rates did SPCC cite regarding the senior secured note?

SPCC cited a balance of $1,083,922 as of September 10, 2025, a mandatory repayment of $1,625,883 as of October 10, 2025, and 18% default interest.

Did STAI agree with the SPCC and Polar notices?

No. The Company stated it does not admit agreement with the assertions or figures and is reviewing and may dispute them.

What did Polar assert about its note?

Polar asserted the settlement is void due to unregistered shares by August 1, 2025, that the $1,250,000 note matured then, and it has accrued 18% interest since.

What governance changes did STAI adopt?

Amended bylaws, including a quorum of at least one-third in voting power, updated proposal/nomination procedures, and Board size set by Board resolution.

When is STAI’s 2025 Annual Meeting and record date?

The Annual Meeting is on November 21, 2025, and the record date is October 14, 2025.

What are the deadlines for stockholder proposals and nominations?

Rule 14a‑8 proposals are due by October 24, 2025; other business or nominations notices are due by October 25, 2025.
ScanTech AI Systems Inc.

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