secwatch.observer — SEC 8-K summary
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Issuer:     ScanTech AI Systems Inc. (STAI)
CIK:        0001994624
Form:       8-K
Filed at:   2025-05-01T23:59:59+00:00
Accession:  0001104659-25-043554
Event type: debt
Sentiment:  neutral
Materiality: 0.55
Item codes: 1.01, 1.02, 2.03, 3.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

ScanTech AI Systems enters $2.85M unsecured promissory note with St. James Bank at 12% interest, due Oct 2025
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- 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.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1994624/000110465925043554/0001104659-25-043554-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1994624/000110465925043554/tm2513838d1_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-25-043554

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