ScanTech AI defaults on $530k loan; faces potential lawsuit and Nasdaq hearing Jan 22

ScanTech AI Systems Inc.

Company did not pay $530,033 loan due Dec 31, 2025; received demand letter; Lender may sue Jan 7 if no extension by Jan 6.
Pledged 145,926 shares as collateral; estimated net proceeds of ~$459,667 at $3.15/share would reduce principal to ~$12k plus fees.
Nasdaq hearing scheduled Jan 22, 2026; Company filed written submission and implemented 1-for-20 reverse stock split on Dec 16, 2025.
Ongoing discussions with creditors regarding restructuring; no definitive agreements reached.
Outstanding loan balance includes $471,750 principal and $58,283 accrued interest/charges as of Jan 5, 2026.

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