ScanTech AI Systems Inc. (NASDAQ: STAI) received a delisting determination from Nasdaq’s Listing Qualifications Department on December 4 2025. The notice cites the company’s failure to meet the minimum market value of listed securities (MVLS) requirement and a lapse in filing its quarterly reports, triggering a potential suspension of trading on the Nasdaq Global Market.
The MVLS deficiency is stark: ScanTech’s market value was $14.89 million on December 4, far below the $50 million threshold for the Global Market and the $35 million threshold for the Capital Market. The company had been given a 180‑day compliance window that ended on November 23 2025, but it did not regain compliance before that deadline. ScanTech has also applied to transfer its listing to the Capital Market, a move still under review, in an effort to meet the lower MVLS requirement.
In addition to the market‑value shortfall, Nasdaq cited late filing of the Q2 2025 quarterly report. ScanTech has already filed amended and restated reports for the periods ending March 31 and June 30 2025, and it expects to file the September 30 2025 report within the stay period. The company’s current ratio of 0.14 and disclosed going‑concern risk underscore the urgency of addressing the reporting deficiency.
Management has highlighted several strategic initiatives amid the regulatory pressure. CEO Dolan Falconer noted that a partnership with Germany’s Unival Group would expand ScanTech’s security systems into Europe, the Middle East, and Africa, while CFO James White emphasized the company’s progress in restoring financial discipline. ScanTech is also pursuing a $20 million subordinated convertible note facility with ARC Group International Ltd. to shore up working capital and mitigate the going‑concern risk identified in its Q1 2025 restatement.
The Nasdaq Hearings Panel will review the appeal on January 22 2026. ScanTech has requested an extension of the stay of suspension, which is set to expire on December 17 2025. If the appeal is denied, trading could be halted, severely limiting the company’s ability to raise capital and potentially eroding investor confidence. The outcome of the hearing will be closely watched as a key indicator of ScanTech’s short‑term liquidity prospects and long‑term viability.
Investors and market participants are monitoring the case closely, as the delisting notice and the company’s financial distress signal significant risks to ScanTech’s continued Nasdaq listing and its ability to secure additional capital. The company’s compliance plan, strategic partnership, and financing efforts will be scrutinized to assess whether it can meet Nasdaq’s requirements and restore investor confidence.
The content on BeyondSPX is for informational purposes only and should not be construed as financial or investment advice. We are not financial advisors. Consult with a qualified professional before making any investment decisions. Any actions you take based on information from this site are solely at your own risk.