Mars Acquisition Corp. Postpones Extraordinary General Meeting and Extends Redemption Deadline for Business Combination with AI-Powered ScanTech

Mars Acquisition Corp. Announces Meeting Adjournment and Deadline Extension

Mars Acquisition Corp. (Nasdaq: MARX), a special purpose acquisition company (SPAC), has announced significant changes to its upcoming extraordinary general meeting. The meeting, originally scheduled for December 5, 2024, has been adjourned to December 12, 2024, at 10:00 a.m. Eastern Time 1

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Meeting Details and Voting Procedures

The rescheduled meeting will be held virtually, with an option for in-person attendance at Mars' New York office. Shareholders of record as of October 24, 2024, are entitled to vote. The company urges shareholders who haven't submitted their proxy or wish to change their vote to do so promptly 1

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Key Proposals on the Agenda

The extraordinary general meeting will consider several crucial proposals:

1. Business Combination Proposal with ScanTech Identification Beam Systems, LLC
2. Advisory Charter Proposals
3. Equity Incentive Plan Proposal
4. Nasdaq Proposal
5. Adjournment Proposal

Extended Redemption Deadline

In conjunction with the meeting adjournment, Mars has extended the deadline for public shareholders to submit their shares for redemption. The new deadline is set for 5:00 p.m. Eastern Time on December 10, 2024 2

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ScanTech: AI-Powered Security Scanning Technology

The proposed business combination involves ScanTech Identification Beam Systems, LLC, a company at the forefront of AI-driven security technology. ScanTech has developed advanced non-intrusive 'fixed-gantry' CT screening systems that utilize artificial intelligence and machine learning capabilities 1

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Key Features of ScanTech's Technology:

• Rapid and accurate detection of hazardous and contraband materials
• Automatic location, discrimination, and identification of threat materials
• Applications in airports, seaports, borders, and other high-security facilities
• Capability to scan various items from suitcases to large packages 2

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Business Combination Details

Upon completion of the business combination, both ScanTech and Mars will become subsidiaries of ScanTech AI Systems Inc., a newly formed Delaware holding company. The combined entity plans to list on Nasdaq under the symbol "STAI" 1

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Regulatory Considerations

Mars Acquisition Corp. has emphasized that this announcement does not constitute an offer to sell or exchange securities. A registration statement on Form S-4 has been filed with the SEC, including a preliminary prospectus for the securities to be issued in connection with the business combination 2

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This development represents a significant step in the merger between Mars Acquisition Corp. and ScanTech, potentially bringing advanced AI-powered security scanning technology to the public markets. The extended deadlines provide shareholders with additional time to consider the proposed business combination and its implications for the future of security technology.