Mars Acquisition (MARX) completed its business combination with ScanTech Identification Beam Systems, ScanTech AI Systems said Thursday.
Shares of ScanTech AI the combined company will begin trading on the Nasdaq on Friday under the ticker symbol "STAI".
Under the agreement, upon closing of the transaction and assuming no redemptions or additional shares issued, Mars' public shareholders will own approximately 42% of the combined company, Mars' founders will retain about 12%, and ScanTech shareholders will own roughly 46%.
Shares of Mars Acquisition were up 1.6% in after-hours trading.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.