ScanTech AI Eliminates $30M in Legacy Debt with Equity Restricted Shares, Strengthening Balance Sheet and Protecting Stockholder Value

Atlanta, GA, May 08, 2025 (GLOBE NEWSWIRE) -- ScanTech AI Systems Inc. (the "Company" or "ScanTech AI") (Nasdaq: STAI), a leading innovator in advanced security screening technologies, today announced the successful completion of an approximate $30 million debt/equity restructuring into approximately 15 million unregistered shares of common stock with key institutional stakeholders as detailed in the Company’s recently Form 8-Ks filed with the U.S. Securities and Exchange Commission. The Company believes that this initiative represents a critical step in strengthening the Company’s capital structure. The company further believes this approach underscores key stakeholders’ commitment and confidence in both technology and our long-term strategic vision. These actions help to strengthen the Company's balance sheet, improve financial agility, position the Company for long-term institutional investors, and accelerate execution of its growth strategy. “Our focus has been clear—build a strong financial foundation to support rapid scale expansion and deliver long-term stockholder value,” said Dolan Falconer, CEO of ScanTech AI Systems Inc. ScanTech AI’s fixed-gantry CT scanner technology, already trusted by Canada’s largest nuclear power facilities, continues to gain traction with recent deliveries. Ongoing strategic initiatives—including partnerships with ZKTeco and Creeksource Consulting, unveiling its CustomsTrace AI™ platform, and active engagement with U.S. federal stakeholders such as TSA underscore the Company’s expanding influence and commercial readiness. With a differentiated platform offering unmatched threat detection, operational efficiency, and reduced total cost of ownership, we believe that ScanTech AI is positioned to capture significant market share in the global security technology sector. About ScanTech AI ScanTech AI Systems Inc. (Nasdaq: STAI) has developed one of the world’s most advanced non-intrusive ‘fixed-gantry’ CT screening technologies. Utilizing proprietary artificial intelligence and machine learning capabilities, ScanTech AI’s state-of-the-art scanners accurately and quickly detect hazardous materials and contraband. Engineered to automatically locate, discriminate, and identify threat materials and items of interest, ScanTech AI’s solutions are designed for use in airports, seaports, borders, embassies, corporate headquarters, government and commercial buildings, factories, processing plants, and other facilities where security is a priority. For more information, visit www.scantechais.com and https://investor.scantechais.com/. Forward-Looking Statements This press release contains forward-looking statements within the meaning of Section 27A of the U.S. Securities Act of 1933, as amended (the “Securities Act”), and Section 21E of the U.S. Securities Exchange Act of 1934, as amended (“Exchange Act”), including statements regarding ScanTech AI’s management team’s expectations, hopes, beliefs, intentions, plans, prospects or strategies regarding the future, including possible business combinations, revenue growth and financial performance, product expansion and services. Any statements contained herein that are not statements of historical fact may be deemed to be forward-looking statements. Additionally, any statements that refer to projections, forecasts, or other characterizations of future events or circumstances, including any underlying assumptions, are forward-looking statements. The words “may,” “will,” “could,” “would,” “should,” “expect,” “intend,” “plan,” “anticipate,” “believe,” “estimate,” “predict,” “project,” “potential,” “continue,” “ongoing,” “target,” “seek” or the negative or plural of these words, or other similar expressions that are predictions or indicate future events or prospects, may identify forward-looking statements, but the absence of these words does not mean that a statement is not forward-looking. The forward-looking statements contained in this press release are based on the current expectations and beliefs made by the management of ScanTech AI, in light of their respective experience and their perception of historical trends, current conditions and expected future developments and their potential effect on ScanTech AI, as well as other factors they believe are appropriate under the circumstances. There can be no assurance that future developments affecting ScanTech AI will be those that it has anticipated. These forward-looking statements involve a number of risks, uncertainties (some of which are beyond the control of the parties) or other assumptions that may cause actual results or performance to be materially different from those expressed or implied by these forward-looking statements, including product and service acceptance, regulatory oversights, research and development success, and that ScanTech AI will have sufficient capital to operate as anticipated. Should one or more of these risks of uncertainties materialize, or should any of the assumptions of ScanTech AI prove incorrect, actual results may vary in material respects from those projected in these forward-looking statements. Additional factors that could cause actual results to differ are discussed under the heading “Risk Factors” and in other sections of the filings of ScanTech AI (and its predecessor, Mars) with the U.S. Securities and Exchange Commission (the “SEC”), and in the current and periodic reports filed or furnished by ScanTech AI (and its predecessor, Mars) from time to time with the SEC. All forward-looking statements in this press release are made as of the date hereof, based on the information available to ScanTech AI as of the date hereof, and ScanTech AI assumes no obligation to update any forward-looking statement, whether as a result of new information, future events or otherwise, except as may otherwise be required under applicable securities laws. Contact:ScanTech AI Systems Inc.James White, CFOjwhite@scantechibs.com Investor & Media Relations Contact:International Elite Capital Inc. Annabelle Zhang +1(646) 866-7928 annabelle@iecapitalusa.com

ScanTech AI Eliminates $30M in Legacy Debt with Equity Restricted Shares, Strengthening Balance Sheet and Protecting Stockholder Value

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