ScanTech AI Systems Inc. 8-K

What Happened

• ScanTech AI Systems Inc. (STAI) reported that it failed to pay in full under a Business Loan and Security Agreement with Maximcash Solutions LLC by the December 31, 2025 due date. On January 2, 2026 the lender’s counsel sent a written notice declaring all outstanding obligations due and demanding immediate payment.
• The notice required any written loan extension to be fully executed by close of business on January 6, 2026 and stated that an interest-only payment without a signed extension was insufficient. If not resolved, the lender indicated it would file suit in Utah District Court on January 7, 2026 and proceed with collateral enforcement in parallel.
• The Company is in discussions with the lender about a possible extension or other resolution, but said there is no assurance an agreement will be reached.

Key Details

• Loan counterparty: Maximcash Solutions LLC; original Loan Agreement entered May 14, 2025 (as amended).
• Aggregate outstanding balance as of January 5, 2026: approximately $530,033 (about $471,750 principal and $58,283 accrued interest/fees).
• Collateral: 145,926 shares of ScanTech common stock pledged; estimated net proceeds from sale at the January 5, 2026 closing price of $3.15 would be about $459,667, which the Company estimates would reduce principal to roughly $12,000 (exclusive of accrued/default interest, fees).
• Important dates from the notice: January 2, 2026 (notice sent), January 6, 2026 (deadline for fully executed extension), January 7, 2026 (lender’s stated intent to file suit if unresolved).

Why It Matters

• For investors, this is a material financing/default development: the lender may accelerate the loan, seek default interest and fees, sue, and liquidate pledged shares to recover the debt. Any sale of the pledged 145,926 shares could put downward pressure on the stock price and affect market liquidity.
• The outstanding balance and the lender’s stated remedies create uncertainty around STAI’s near-term cash needs and potential legal costs. Although sale of the collateral could substantially reduce principal, accrued interest, default interest and fees would remain a factor.
• The Company disclosed it issued a Regulation FD press release on January 6, 2026 about Nasdaq trading and related matters; investors should monitor further updates from STAI for resolution details and potential impacts on the company’s financial condition.