ScanTech AI Systems Issues Shares to Settle $550,000 Debt with Steele Lenders

Reuters12-02

ScanTech AI Systems Issues Shares to Settle $550,000 Debt with Steele Lenders

ScanTech AI Systems Inc. has entered into an agreement to resolve outstanding legal fee obligations related to previous loans. Under the terms of the agreement, the company and ScanTech Identification Beam Systems LLC have jointly acknowledged a debt of $550,000 to the Steele Lenders for legal fees incurred in connection with certain loans and an exchange agreement. To settle this debt, ScanTech AI Systems will issue 2,500,000 shares of its common stock to the Steele Lenders. Additionally, the company is obligated to issue 1,200,000 shares as part of a first tranche. The agreement also includes provisions related to the release of claims and certain conditions for the satisfaction of mutual waivers.

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. ScanTech AI Systems Inc. published the original content used to generate this news brief via EDGAR, the Electronic Data Gathering, Analysis, and Retrieval system operated by the U.S. Securities and Exchange Commission (Ref. ID: 0001104659-25-117322), on December 01, 2025, and is solely responsible for the information contained therein.

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