---
schema_version: "secwatch.filing_event.v1"
accession: "0001104659-25-066781"
form_type: "8-K"
ticker: "STAI"
cik: "0001994624"
company_name: "ScanTech AI Systems Inc."
filed_at: "2025-07-10T23:59:59+00:00"
generated_at: "2026-05-18T08:47:52.271655+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# ScanTech AI Systems enters $1.5M secured note with 340 Broadway Holdings

## Summary
- 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.

## SEC filing metadata
- accession: 0001104659-25-066781
- form_type: 8-K
- ticker: STAI
- cik: 0001994624
- company_name: ScanTech AI Systems Inc.
- filed_at: 2025-07-10T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 1.01, 2.03, 3.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1994624/000110465925066781/0001104659-25-066781-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1994624/000110465925066781/tm2520225d1_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-25-066781
- JSON: https://secwatch.observer/filing/0001104659-25-066781.json
- Plain text: https://secwatch.observer/filing/0001104659-25-066781.txt

## Key facts
- Debt Financings
  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
  source text: 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”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/1994624/000110465925066781/0001104659-25-066781-index.htm

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