ScanTech Closes Deal to Go Public

Dow Jones

03 Jan

By Katherine Hamilton

A business combination closed between ScanTech Identification Beam Systems and special purpose acquisition company Mars Acquisition, ScanTech said Thursday.

The new public company will be called ScanTech AI systems. It is expected to begin trading on Nasdaq on Friday under the symbol STAI.

New York-based ScanTech develops non-invasive CT scanning technology. Going public is expected to help scale the company globally, said Chief Executive Dolan Falconer.

Mars' stock dropped 74% after market close Thursday.

Write to Katherine Hamilton at katherine.hamilton@wsj.com

(END) Dow Jones Newswires

January 02, 2025 16:58 ET (21:58 GMT)

Copyright (c) 2025 Dow Jones & Company, Inc.

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