ScanTech AI Systems Inc. (STAI): debt financing — ScanTech AI Systems enters $1.5M secured note with 340 Broadway Holdings

ScanTech AI Systems Inc.

Promissory note up to $1.5M, 15% annual interest, matures July 3, 2026.
Initial closing on July 7, 2025 funded $250,000; net proceeds $240,000 for corporate purposes.
2,095,531 Origination Shares issued to lender; additional shares issuable on conversion.
Conversion price at 80% of average three lowest trading prices over five days, minimum $0.2051/share.
Mandatory prepayment at 150% of principal plus interest; event of default includes >50% price drop.

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.98

ScanTech AI Systems Inc. incurred senior notes of up to $1,500,000 with 340 Broadway Holdings, LLC at 15% per annum maturing July 3, 2026.

Instrument: senior notes
Principal: up to $1,500,000
Counterparty: 340 Broadway Holdings, LLC
Rate: 15% per annum
Maturity: July 3, 2026
Event: incurrence

Exact text from the filing

The Company issued a senior secured promissory note (the “Note”) to the Lender with a total principal amount of up to $1,500,000 and 2,095,531 shares (the “Origination Shares”) of the Company’s common stock to the Lender. The Note bears interest at an annual rate of 15% and matures on July 3, 2026 (the “Maturity Date”).

View on SEC.gov

101 debt financings filed in the last 30 days. Browse all debt financings →

ScanTech AI Systems Inc. filing history →

Source: SEC EDGAR

accession 0001104659-25-066781

view filing index on sec.gov

view primary document

Machine-readable: JSON · Markdown · Plain text

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.