ScanTech management confirms ‘solid’ balance sheet

ScanTech (STAI) AI Systems in a statement through its CEO Dolan Falconer, confirmed the company has no convertible or variable rate indebtedness and no dilutive equity structure on its balance sheet, a departure from many recent deSPAC transactions and a factor management believes is a powerful platform to finance its growth objectives. On February 10, 2025, ScanTech AI filed its initial resale registration statement which will register additional shares on behalf of certain long-term ScanTech AI stockholders. “Unlike many deSPAC companies, ScanTech AI does not have any death spiral structured convertible indebtedness on its balance sheet and its registration statement reflects efficient capital structure management, to the benefit of stockholders. Management remains committed to making prudent financing decisions as we continue to grow our business.” In addition, of the approximately 5.4M shares of common stock in the resale registration statement, only about 2.8M are not subject to any lock-up and are freely tradable, while the remaining shares are locked up for six months or more. In addition to reporting a balance sheet without any toxic convertible debt financing, the Company currently has no equity line of credit or other dilutive equity financing that requires the registration of substantial amounts of new shares. “Even with the filing of the resale registration statement, we remain committed to protecting stockholders from dilutive financings,” Falconer” continued. “In fact, nearly half of the shares registered in the resale registration statement were registered on behalf of an affiliate and cannot be freely sold into the market.