Mars Acquisition Closes Business Combination With ScanTech Identification-March 2024-www.financetom.com

Mars Acquisition Closes Business Combination With ScanTech Identification

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Mars Acquisition Closes Business Combination With ScanTech Identification

Jan 2, 2025 1:58 PM

04:38 PM EST, 01/02/2025 (MT Newswires) -- 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 ( MARX ) were up 1.6% in after-hours trading.

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