ScanTech AI Systems Inc. Financial Obligation Trigger

ScanTech AI Systems Inc. received a notice from Silverback Capital Corporation asserting an Event of Default under a senior secured promissory note due to a missed quarterly interest payment. The notice claims the outstanding principal amount is now $1,112,500. This default could also trigger an Event of Default under a separate note with 340 Broadway Holdings LLC, potentially leading to additional default interest and a greater conversion discount. The company is reviewing the notice and reserves the right to dispute the claims, but unresolved issues could materially affect the company's liquidity, financial condition, and results of operations.