---
schema_version: "secwatch.filing_event.v1"
accession: "0001104659-24-044326"
form_type: "8-K"
ticker: null
cik: "0001892922"
company_name: "Mars Acquisition Corp."
filed_at: "2024-04-05T23:59:59+00:00"
generated_at: "2026-06-04T01:58:43.546366+00:00"
event_type: "m_and_a"
sentiment: "neutral"
materiality_score: 0.6
calibrated_materiality_score: 0.6
confidence: "high"
source: SEC EDGAR
---

# Mars Acquisition Corp. amends merger terms with ScanTech, secures $1.34M in new funding

## Summary
- Merger consideration set at $110M minus closing net debt exceeding $20M.
- Each non-redeemed ordinary share converts to two Pubco common shares; insiders receive 5,021,400 Pubco shares.
- Polar Multi-Strategy Master Fund commits up to $1M working capital via subscription for Pubco shares.
- Sponsor affiliate promissory note of $337,500, non-interest bearing, converts to shares at closing.
- Note waived if no business combination consummated.

## SEC filing metadata
- accession: 0001104659-24-044326
- form_type: 8-K
- cik: 0001892922
- company_name: Mars Acquisition Corp.
- filed_at: 2024-04-05T23:59:59+00:00
- event_type: m_and_a
- sentiment: neutral
- materiality_score: 0.6
- calibrated_materiality_score: 0.6
- confidence: high
- sec_items: 1.01, 2.03, 8.01, 3.02, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1892922/000110465924044326/0001104659-24-044326-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1892922/000110465924044326/tm2411183d1_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-24-044326
- JSON: https://secwatch.observer/filing/0001104659-24-044326.json
- Plain text: https://secwatch.observer/filing/0001104659-24-044326.txt

## Key facts
- Material Agreements
  Mars Acquisition Corp. amended Amendment No. 2 to the Business Combination Agreement with ScanTech AI Systems Inc., Mars Merger Sub I Corp., Mars Merger Sub II LLC, ScanTech Identification Beam Systems, LLC, Dolan Falconer valued at $110,000,000 (effective 2024-04-02).
  - Action: amendment
  - Agreement: merger
  - Counterparty: ScanTech AI Systems Inc., Mars Merger Sub I Corp., Mars Merger Sub II LLC, ScanTech Identification Beam Systems, LLC, Dolan Falconer
  - Value: $110,000,000
  - Effective: 2024-04-02
  source text: On April 2, 2024, an Amendment No. 2 to the Business Combination Agreement was entered to reflect that the merger consideration shall be adjusted to One Hundred Ten Million U.S. Dollars ($110,000,000)
  evidence_url: https://www.sec.gov/Archives/edgar/data/1892922/000110465924044326/0001104659-24-044326-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.