By Kailyn Rhone
Shares of ScanTech AI Systems jumped after the company said it sees growth opportunities and more funding options.
The company's stock rose 34% to $2.93 in after-hours trading Wednesday. For the week, shares are down 76%.
The screening solutions company said it is well-positioned to pursue growth opportunities following its listing on Nasdaq. With lower costs, faster processing and fewer maintenance issues, ScanTech AI is gaining traction across various markets, including airport and border security.
ScanTech AI announced the completion of its business combination with Mars Acquisition Corp., a special purpose acquisition company, on Jan. 2. The company began trading on Nasdaq under the ticker STAI on Jan. 3.
"ScanTech AI's funding options have expanded as a public company, which will help drive growth and the execution of its commercial sales strategy," said Chairman Karl Brenza.
Write to Kailyn Rhone at kailyn.rhone@wsj.com
(END) Dow Jones Newswires
January 08, 2025 18:41 ET (23:41 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.
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