{"schema_version":"secwatch.filing_event.v1","accession":"0001104659-25-043554","form_type":"8-K","ticker":"STAI","cik":"0001994624","company_name":"ScanTech AI Systems Inc.","filed_at":"2025-05-01T23:59:59+00:00","discovered_at":"2026-05-14T18:02:50.653361+00:00","generated_at":"2026-05-23T01:13:54.259002+00:00","sec_items":["1.01","1.02","2.03","3.02","9.01"],"event_type":"debt","sentiment":"neutral","materiality_score":0.55,"calibrated_materiality_score":0.55,"confidence":"high","headline":"ScanTech AI Systems enters $2.85M unsecured promissory note with St. James Bank at 12% interest, due Oct 2025","bullets":["Entered $2,850,000 unsecured promissory note with St. James Bank at 12% annual interest, maturing October 25, 2025.","Company has option for up to two 180-day extensions; may pay extension amount in cash, shares at $9.87 per share, or combination.","Settlement agreement terminated original loan; also amended Aegus bridge note, terminating it and issuing 360,000 shares.","Shares issued under note and amendment are unregistered, sold under Section 4(a)(2) exemption."],"urls":{"canonical":"https://secwatch.observer/filing/0001104659-25-043554","json":"https://secwatch.observer/filing/0001104659-25-043554.json","markdown":"https://secwatch.observer/filing/0001104659-25-043554.md","text":"https://secwatch.observer/filing/0001104659-25-043554.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1994624/000110465925043554/0001104659-25-043554-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1994624/000110465925043554/tm2513838d1_8k.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-05-23T01:13:54.259002+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[{"claim_id":"7f545c230bd5f2bf5cbd67ab34fa2899f500ac98","claim":"ScanTech AI Systems Inc. incurred loan of $2,850,000 with St. James Bank and Trust Company Ltd. at annual interest rate of 12.0% maturing October 25, 2025.","evidence_excerpt":"On April 25, 2025, ScanTech AI Systems Inc. (the “Company”) and St. James Bank and Trust Company Ltd. (“St. James”) entered into an unsecured promissory note (the “Promissory Note”) pursuant to which St. James agreed to loan the Company $2,850,000 at an annual interest rate of 12.0% with a maturity date of October 25, 2025","evidence_source":"SEC 8-K Item 2.03/2.04","evidence_url":"https://www.sec.gov/Archives/edgar/data/1994624/000110465925043554/0001104659-25-043554-index.htm","confidence":0.9,"family_label":"Debt Financings","details":[{"label":"Instrument","value":"loan"},{"label":"Principal","value":"$2,850,000"},{"label":"Counterparty","value":"St. James Bank and Trust Company Ltd."},{"label":"Rate","value":"annual interest rate of 12.0%"},{"label":"Maturity","value":"October 25, 2025"},{"label":"Event","value":"incurrence"}],"fact_type":"debt_financing"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}