ScanTech AI Faces Nasdaq Delisting After Missing $15M MVPHS Threshold, Seeks OTCQB Listing
ScanTech AI received a Nasdaq deficiency notice for failing to maintain the $15 million MVPHS requirement and was denied continued listing by a Hearing Panel, triggering a trading suspension on February 10. The company has 180 days to regain compliance or appeal within 15 days and plans OTCQB quotation application.
1. Nasdaq Deficiency Notice and Panel Decision
On February 4, ScanTech AI received a deficiency notice from Nasdaq for failing to maintain a minimum $15 million market value of publicly held shares (MVPHS) over 30 consecutive business days. Following a January 22 hearing, the Nasdaq Hearing Panel denied the company’s request for continued Global Market listing on February 6.
2. Trading Suspension and Appeal Rights
Nasdaq has scheduled suspension of trading for February 10 at market open. The company has 15 days to request a review by the Nasdaq Listing and Hearing Review Council, which could affirm, modify, reverse, dismiss, or remand the Panel’s decision.
3. Compliance Deadline and Recovery Criteria
ScanTech AI now has a 180-day compliance window, ending August 3, 2026, to restore MVPHS to at least $15 million for ten consecutive business days. Achieving this threshold would satisfy Nasdaq Listing Rule 5450(b)(2)(C) and prevent delisting.
4. OTCQB Quotation Intent
In parallel, the company intends to apply for quotation on the OTCQB Venture Market but faces uncertain eligibility and approval timelines. ScanTech AI continues to advance its AI-powered screening operations and monitor developments to inform shareholders.