<SEC-DOCUMENT>0001104659-24-076348.txt : 20241218
<SEC-HEADER>0001104659-24-076348.hdr.sgml : 20241218
<ACCEPTANCE-DATETIME>20240628170410
<PRIVATE-TO-PUBLIC>
ACCESSION NUMBER:		0001104659-24-076348
CONFORMED SUBMISSION TYPE:	CORRESP
PUBLIC DOCUMENT COUNT:		1
FILED AS OF DATE:		20240628

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			ScanTech AI Systems Inc.
		CENTRAL INDEX KEY:			0001994624
		STANDARD INDUSTRIAL CLASSIFICATION:	INSTRUMENTS FOR MEAS & TESTING OF ELECTRICITY & ELEC SIGNALS [3825]
		ORGANIZATION NAME:           	08 Industrial Applications and Services
		IRS NUMBER:				933502562
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		CORRESP

	BUSINESS ADDRESS:	
		STREET 1:		1177 AVENUE OF THE AMERICA, SUITE 5100
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10036
		BUSINESS PHONE:		8886221218

	MAIL ADDRESS:	
		STREET 1:		1177 AVENUE OF THE AMERICA, SUITE 5100
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10036
</SEC-HEADER>
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<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">June&nbsp;28, 2024</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Via EDGAR</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Division of Corporation Finance</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Office of Industrial Applications and Services</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Securities and Exchange Commission</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">100 F Street, N.E.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Washington, D.C. 20549</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 48px; font-size: 10pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Attn.:</FONT></TD>
    <TD>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Michael Fay</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Li Xiao</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Benjamin Richie</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Katherine Bagley</P></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 72px; font-size: 10pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 24px; font-size: 10pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Re:</B></FONT></TD>
    <TD>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>ScanTech AI Systems Inc.</B></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Response to the Staff&rsquo;s Comments on</B></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Amendment No.&nbsp;3 to Draft Registration
    Statement on Form&nbsp;S-4</B></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Submitted May&nbsp;13, 2024</B></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>CIK No.&nbsp;0001994624</B></P></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Dear Madam and Sirs:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">ScanTech AI Systems Inc., a Delaware corporation
(the &ldquo;Company&rdquo;), submits to the staff (the &ldquo;Staff&rdquo;) of the Securities and Exchanges Commission (the &ldquo;Commission&rdquo;)
the Company&rsquo;s responses to the comments contained in the Staff&rsquo;s letter dated June&nbsp;4, 2024 on the Amendment No.&nbsp;3
to the Company&rsquo;s Draft Registration Statement on Form&nbsp;S-4 previously submitted on May&nbsp;13, 2024 (the &ldquo;Amendment No.3&rdquo;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Concurrently
with the submission of this letter, the Company is filing the Registration Statement on Form&nbsp;S-4 (the &ldquo;</FONT><B>Registration
Statement</B><FONT STYLE="font-family: Times New Roman, Times, Serif">&rdquo;</FONT>) with the Commission.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The Staff&rsquo;s comments are repeated below in
bold and are followed by the Company&rsquo;s responses. We have included page&nbsp;references in the Registration Statement where the
language addressing a particular comment appears. Capitalized terms used but not otherwise defined herein have the meanings set forth
in the Registration Statement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B><U>Amendment No.&nbsp;3 to Draft Registration Statement on Form&nbsp;S-4</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B><U>Cover Page</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><B>1.</B></TD><TD><B>We note your revised disclosure in response to comment 3, including the aggregate number of shares of Pubco Common Stock to be
held by Company Holder Participants. Please revise your disclosure to provide an estimate of the per share exchange ratio showing how
many shares of Pubco Common Stock Company Holder Participants will receive for each unit of ScanTech held by these shareholders.</B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><U>Response</U></FONT>:
In response to the Staff&rsquo;s comments, we have revised the disclosure on the cover page.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>2.</B></FONT></TD><TD><B>We note your revised disclosure in response to prior comment 4, and reissue the comment in part. Please revise your cover page&nbsp;disclosure
to discuss the Initial Extension Meeting, including the percentage of shares outstanding that were redeemed at the meeting.</B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><U>Response</U></FONT>:
In response to the Staff&rsquo;s comments, we have revised the disclosure on the cover page.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Certain Defined Terms </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Earnout Milestones, page 2</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>3.</B></FONT></TD><TD><B>Here and as appropriate throughout your filing, please provide the specific Earnout Milestones, including commercial milestones
and revenue and EBITDA milestones.</B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><U>Response</U></FONT>:
In response to the Staff&rsquo;s comments, we have revised the disclosure on pages&nbsp;2, 4, 5, 6, 15, 35, 64, and 141.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Prepaid Forward Purchase Agreement, page 36</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>4.</B></FONT></TD><TD><B>We note your response to prior comment 7, and your amended disclosure on page&nbsp;37, including that &quot;such purchases . .
.. would be made in compliance with Rule&nbsp;14e-5 under the Exchange Act, relying on Tender Offer Compliance and Disclosure Interpretation
166.01.&quot; This disclosure appears to conflict with your response that the FPA with RiverNorth satisfies the requirement in the exemption
in 14e-5(b)(7), and we are not persuaded by your response that the FPA satisfies the exemption, given the requirement in 14e-5(b)(7)(ii)&nbsp;that
the agreement is &quot;unconditional and binding on both parties,&quot; and your disclosure that &quot;RiverNorth may, but is not obligated
to, purchase Ordinary Shares in the open market. . .&quot; (emphasis added). Therefore, please clarify, if true, that you intend to make
purchases in compliance with Rule&nbsp;14e-5 relying on Tender Offer Compliance and Disclosure Interpretation 166.01. In addition, please
revise your filing to clarify that RiverNorth will purchase the SPAC securities at a price no higher than the price offered through the
SPAC redemption process, as discussed in the Compliance and Disclosure Interpretation.</B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><U>Response</U></FONT>:
In response to the Staff&rsquo;s comments, we have revised the disclosure on pages&nbsp;38, 46, 59 and 128.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>5.</B></FONT></TD><TD><B>We note your response to prior comment 9. Revise the disclosure in your registration statement to quantify the amount that the
Company will pay RiverNorth following the closing of the Business Combination, estimated as of a reasonably practicable date. </B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><U>Response</U></FONT>:
In response to the Staff&rsquo;s comments, we have revised the disclosure on pages&nbsp;39, 46, 59, and 128.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Risk Factors Summary, page&nbsp;46</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>6.</B></FONT></TD><TD><B>We note you included a new summary risk factor relating to your payroll tax liability of approximately $5.4 million but you do
not explain this risk within the Risk Factors section. Please revise your disclosure to discuss this risk related to ScanTech, to include
any material consequences for or impacts on the Company and any material steps taken to mitigate these risks or consequences. </B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><U>Response</U></FONT>:
In response to the Staff&rsquo;s comments, we have revised the disclosure on pages&nbsp;50 and 96.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Risk Factors</B></P>

<P STYLE="margin: 0pt 0; font: 10pt Times New Roman, Times, Serif"><B>There is no minimum cash condition . . ., page 55</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>7.</B></FONT></TD><TD><B>We note your revised disclosure in this risk factor that &quot;Even without any additional redemptions in connection with the Business
Combination, unless Mars or ScanTech raise additional capital, the Business Combination would result in proceeds significantly less than
the amount assumed by the ScanTech when preparing the projections.&quot; Given this disclosure, please clarify whether and to what extent
management considered obtaining revised projections and a revised fairness opinion. As a related matter, where you discuss sources and
uses of funds in your summary on page&nbsp;43, it appears that your estimate for sources of cash is based on your projections. Please
revise your sources and uses disclosure on page&nbsp;43 to include an estimate of the sources and uses of funding after the business combination
as of a recently practicable date, including not only the Trust Account, but other sources of funding such as the Transaction Financing
or other financing. </B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><U>Response</U></FONT>:
In response to the Staff&rsquo;s comments, we have revised the disclosure on pages&nbsp;58 to 59, and on page 158.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>The value of the Founder Shares following completion of the Business
Combination, page 61</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>8.</B></FONT></TD><TD><B>We note your response and revised disclosure in response to comment 11, including that &quot;[b]ased on these assumptions, each
Ordinary Share would have an implied value of $10.83 per share upon completion of the Business Combination,&quot; and &quot;[a]ssuming
a trading price of $10.83 per share upon consummation of the Business Combination . . . .&quot; Therefore, it appears that the price per
share in your revised table represents an assumed trading price. Please amend your disclosure to show the potential impact of redemptions
on the per share value of the shares owned by non-redeeming shareholders at each redemption level, taking into account not only the money
in the trust account, or an assumed trading price, but the post-transaction equity value of the combined company. Your disclosure should
show the impact of certain equity issuances on the per share value of the shares, including the exercises of public and private rights
under each redemption scenario. </B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><U>Response</U></FONT>:
In response to the Staff&rsquo;s comments, we have revised the disclosure on pages&nbsp;63 to 65.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="margin: 0pt 0; font: 10pt Times New Roman, Times, Serif"><B>Nasdaq may delist Mars' securities from trading . . ., page 72</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>9.</B></FONT></TD><TD><B>Please disclose the calendar date by which you must regain compliance with Nasdaq listing standards. In this regard, we note your
disclosure that &quot;In accordance with Nasdaq Listing Rule&nbsp;5810(c)(3)(C), Mars has 180 calendar days from the date of the MVLS
Deficiency Notice (the &ldquo;Compliance Date&rdquo;), to regain compliance with respect to the MVLS Requirement,&quot; but the calendar
date by which you must comply is unclear. </B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><U>Response</U></FONT>:
In response to the Staff&rsquo;s comments, we have revised the disclosure on page&nbsp;77.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Redemption Offer, page 111</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>10.</B></FONT></TD><TD><B>We note your revised disclosure that &quot;[e]ach holder of Ordinary Shares that elects not to participate in the Closing Redemption
(&ldquo;Non-Redeeming Shareholders&rdquo;) will receive one additional share of Pubco Common Stock for each Ordinary Share that is not
redeemed in the Closing Redemption.&quot; Please clarify whether this redemption offer applies to only public shareholders, or if it applies
to Insiders, other affiliates, or Maixm, that have agreed not to redeem their shares. To the extent any of the non-redeeming shareholders
are &quot;covered persons&quot; for purposes of Rule&nbsp;14e-5, please clarify how these non-redemption agreements comply with Rule&nbsp;14e-5.
Finally, please clarify whether you intend to register these share issuances.</B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">Response: In response to the Staff&rsquo;s comments, we have
revised the disclosure on page&nbsp;116 to reflect that the redemption offer applies to all holders of outstanding Ordinary Shares, including
Public Shareholders,&nbsp;Insiders, and Maxim. Additionally, we respectfully acknowledge the Staff&rsquo;s comment and note that it is
the Company&rsquo;s view that the one additional share to be issued pursuant to the Second Business Combination Agreement Amendment is
not subject to Rule&nbsp;14e-5. This is because each shareholder who may receive the additional share has held a certain number of shares
prior to the date of the Extraordinary General Meeting, is not required to vote in favor of the Business Combination at the Extraordinary
General Meeting, and is not required to purchase any shares during the period commencing with the announcement of the Business Combination
Agreement and ending upon the expiration of the redemption deadline in connection with the Extraordinary General Meeting to approve the
Business Combination contemplated by the Business Combination Agreement. Therefore, the Company does not believe that the Second Business
Combination Agreement Amendment constitutes an arrangement by which the Sponsor or any affiliates of the Sponsor violate the Rule&nbsp;14e-5
prohibition against purchases of shares outside of the redemption offer, to the extent that the redemption offer constitutes a tender
offer. The additional share will be issued 90 days following the Closing, or such other period as may be agreed upon by the parties to
the Business Combination Agreement, and these shares may be registered after the Closing.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Background of the Business Combination, page 127</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>11.</B></FONT></TD><TD><B>We note the revised disclosure in response to prior comment 17 and reissue the comment. Please provide a detailed legal analysis
discussing why you do not identify the advisor in your filing, including a discussion of why identifying the advisor is not material to
investors. Alternatively, identify the advisor. Additionally, within the timeline section of the Background of the Business Combination,
please provide further detail regarding the substance of any discussions and or meetings with the advisor.</B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><U>Response</U></FONT>:
We respectfully advise the Staff that we do not believe that the disclosure of the advisor&rsquo;s name is required in the Registration
Statement. Among other things, the role of the advisor was limited to (i)&nbsp;assisting ScanTech in reviewing certain internal matters
in anticipation of a business combination, (ii)&nbsp;facilitating coordination among ScanTech, its accounting consultant and its independent
auditor regarding financial disclosures and (iii)&nbsp;helping with certain diligence matters. The advisor did not play a substantial
role in the negotiation of the terms of the Business Combination Agreement or preparation of the disclosures in the Registration Statement.
Additionally, the advisor was also not involved in negotiating or advising on (i)&nbsp;the enterprise value of ScanTech, (ii) terms of the Business Combination Agreement, including the earnout,
(iii) discussions with potential financing sources, (iv) the forward purchase agreement with RiverNorth, (iii) the structure of the business
combination, (iv) preparation of financial projections or (iv)&nbsp;the description of ScanTech&rsquo;s
business in the Registration Statement. Accordingly, we do not believe that the disclosure of the advisor&rsquo;s name would be material
to investors.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>12.</B></FONT></TD><TD><B>We note your revised disclosure in response to comment 18 and reissue in part. Please revise your disclosure to further clarify:
(1)&nbsp;the assumptions underlying the overall growth potential of ScanTech&rsquo;s products which supported the increased valuation
to $110 million, given that the initial $100 million valuation was based on, among other things, ScanTech's projections; and (2)&nbsp;the
removal of the minimum cash condition, including the reasons why management believed this type of provision to be an impediment to achieving
a closing and how the parties agreed on final terms. In your discussion, please consider disclosing any underlying assumptions, who the
discussing parties were, whether there were alternatives considered, and explain how the determinations were ultimately made. In this
regard, we note that these discussions were held over four days and Mr.&nbsp;Brenza and Mr.&nbsp;Falconer &quot;exchanged comments&quot;
on these subjects.</B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><U>Response</U></FONT>:
In response to the Staff&rsquo;s comments, we have revised the disclosure on pages&nbsp;19, 58, 135, 137, 143, and 184. We respectfully inform the Staff that the enterprise value has not changed since Mars and ScanTech agreed upon
the LOI. The Second Business Combination Agreement Amendment, entered on April 2, 2024, reflects the detailed calculation of the number
of shares of Pubco Common Stock to be paid to Company Holder Participants.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>13.</B></FONT></TD><TD><B>We note your response to prior comment 23. Please revise your disclosure to include the substance of your response as disclosure
in your filing.</B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><U>Response</U></FONT>:
In response to the Staff&rsquo;s comments, we have revised the disclosure on pages&nbsp;147 and 148.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>The Mars Board and Special Committee's Reasons for the Approval
of the Business Combination, page 137</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>14.</B></FONT></TD><TD><B>We note your revised disclosure in response to comment 26. Please revise your disclosure as follows:</B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD><TD STYLE="text-align: left"><B>with respect to the comparable companies criteria, describe
the specific &quot;certain financial and operating information&quot; criteria considered that resulted in the selection of the comparable
companies. Please also describe the relevant end-markets served and platforms. Please clarify the &quot;public trading activity,&quot;
and &quot;operational, business and/or financial characteristics&quot; of ScanTech that were used to select or disqualify other companies.</B></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD><TD STYLE="text-align: left"><B>detail the specific &quot;financial and operating information&quot;
reviewed by Network 1 in its review of the comparable companies, the relevant multiples for each of the named companies, and how these
multiples were calculated. Consider presenting relevant financial information, operating information, and multiples in tabular format.
Explain how this information was considered in arriving at the enterprise valuation range for ScanTech.</B></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><U>Response</U></FONT>:
In response to the Staff&rsquo;s comments, we have revised the disclosure on pages&nbsp;149 to 150.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Discounted Cash Flow Analysis, page 142</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>15.</B></FONT></TD><TD><B>We note your revised disclosure in response to to prior comment 29 and reissue the comment. Specifically, we note your disclosure
that &quot;Network 1 reviewed ScanTech&rsquo;s projections for fiscal years ended December&nbsp;31, 2023 to December&nbsp;31, 2032, focusing
specifically on the years 2023 to 2028. Network 1 analyzed the estimated future free cash flow (&ldquo;FCF&rdquo;) projected for ScanTech
from 2024-2028 and discounted this stream of cashflows back to a present value using ScanTech&rsquo;s estimated weighted average cost
of capital (&ldquo;WACC&rdquo;).&quot; Given that your discounted cash flow analysis relates to a range of years from 2024-2028, please
present your analysis in tabular format, to show future free cash flow, discount rates, and present value for each of the relevant years.
In addition, we note your disclosure that &quot;Network 1 derived a range of discount rates from 25% to 35% and a range of EBITDA exit
multiples of 6x to 8x.&quot; Please clarify how Network 1 selected these ranges.</B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><U>Response</U></FONT>:
In response to the Staff&rsquo;s comments, we have revised the disclosure on pages&nbsp;150 to 151.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Certain Projected Financial Information, page 143</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>16.</B></FONT></TD><TD><B>We note your revised disclosure in response to comment 28 and reissue in part. With regard to Network 1 and the Board's consideration
of certain projected financial statements from 2023 through 2032, with a focus on 2024 through 2028, please explain the reliability of
these projections given your disclosure of delays pushing TSA clearance to at least Q1 of 2025. Please also further support the market
penetration projections in the regions in which you do not have established partnerships or regulatory approval. Please make conforming
changes within your Industry Opportunity section, beginning on page&nbsp;208, as well.</B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><U>Response</U></FONT>:
In response to the Staff&rsquo;s comments, we have revised the disclosure on pages&nbsp;157 to 158.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Unaudited Pro Forma Condensed Combined Financial Information, page
176</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>17.</B></FONT></TD><TD><B>We have reviewed your revised disclosure in response to prior comment 31 and have the following comment. We note your disclosure
that &ldquo;ScanTech has secured agreements or is in the final stages of discussion to secure signed agreements, from holders of promissory
indebtedness, including Catalytic, that converts such indebtedness to common shares of PubCo upon the closing of the Business Combination,&rdquo;
and &ldquo;ScanTech has secured agreements with holders of warrants and other derivatives for the cancellation of such derivatives upon
the closing of the Business Combination.&rdquo; Please file the relevant agreements as exhibits to your registration statement or tell
us why you do not believe you are required to do so. In addition, to the extent you have not executed certain of these agreements, please
continue to disclose the status of negotiations related to these agreements, and file any related term sheets, letters of intent, or other,
material ancillary agreements related to these agreements and negotiations. If and when these agreements are executed, please file the
same as exhibits to your registration statement. See Item 601(b)(10)&nbsp;of Regulation S-K. Lastly, please revise your disclosure to
provide in tabular form the dollar amount related to each separate conversion and the related number of common shares.</B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><U>Response</U></FONT>:
In response to the Staff&rsquo;s comments, we have filed the Form&nbsp;of Creditor Conversion Agreement as Exhibit&nbsp;10.20 and the
Transaction Terms as Exhibit&nbsp;10.21 and revised the disclosure on page 193.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>18.</B></FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Disclosure </B></FONT><B>on pages&nbsp;14 and 125 appears
to indicate that the $1,000,000 received under the Polar agreement is a liability, but pro forma entry (K)&nbsp;appears to indicate that
the $1,000,000 is an equity transaction. Please clarify your accounting and the terms of the agreement.</B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><U>Response</U></FONT>:
In response to the Staff&rsquo;s comments, we have revised the disclosure on page&nbsp;193.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>19.</B></FONT></TD><TD><B>Please revise adjustment (M)&nbsp;to include the calculations used to determine the gains and other income.</B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><U>Response</U></FONT>:
In response to the Staff&rsquo;s comments, we have revised the disclosure on page&nbsp;193.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>20.</B></FONT></TD><TD><B>Please update the Pro Forma Outstanding PubCo Common Stock table on page&nbsp;179 to include the common shares to be issued under
adjustment (G). In addition, please provide a separate table of all pro forma fully diluted shares that are not included in the current
table.</B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><U>Response</U></FONT>:
In response to the Staff&rsquo;s comments, we have revised the disclosure on page&nbsp;193.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Comparative Historical and Unaudited Pro Forma Per Share Financial
Information, page 187</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>21.</B></FONT></TD><TD><B>We note your disclosure that &quot;the unaudited pro forma combined book value per share information below does not purport to
represent what the value of Mars and ScanTech would have been had Mars and ScanTech consummated a business combination during the period
presented.&quot; However, we were unable to find the &quot;book value per share&quot; in your table. Please advise.</B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><U>Response</U></FONT>:
In response to the Staff&rsquo;s comments, we have revised the disclosure on pages&nbsp;194 to 196.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>SENTINEL Scanner, page 205</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>22.</B></FONT></TD><TD><B>We note your revised disclosure in response to comment 33 and reissue in part. Please explain how you measure &quot;superior&quot;
threat detection capacity and &quot;superior technology.&quot; Also, when discussing SENTINEL's performance compared to rotating gantry
systems or other scanners currently operational, quantify your claims of lower maintenance costs, reduced downtime, and lower operating
costs.</B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><U>Response</U></FONT>:
In response to the Staff&rsquo;s comments, we have revised the disclosure on page&nbsp;212.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Industry Opportunity, page 208</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>23.</B></FONT></TD><TD><B>We note your disclosure that &quot;To date, we have entered into third party distribution agreements with partners to assist with
the distribution, promotion and sales of SENTINEL in Canada, Russia, Turkey, Poland, Japan and Spain. These agreements are critical in
the facilitation of sales efforts for our products outside of the United States.&quot; Please file these distribution agreements as exhibits
to your registration statement, or tell us why you believe you are not required to do so. See Item 601(b)(10)&nbsp;of Regulation S-K.</B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><U>Response</U></FONT>: We believe that these agreements are not required to be filed as they are not considered material contracts under Regulation S-K, in light
of the fact that ScanTech is not currently making any sales under these contracts outside of the United States, as does not expect to
do so in the near future until applicable regulatory approvals are obtained.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Intellectual Property, page 214</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>24.</B></FONT></TD><TD><B>Please revise to reinstate the footnote to your patent table indicating that the patents are utility patents.</B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><U>Response</U></FONT>:
In response to the Staff&rsquo;s comments, we have revised the disclosure on page&nbsp;222.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Facilities, page 215</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>25.</B></FONT></TD><TD><B>Please file the VJ Properties, LLC lease as an exhibit. Refer to Item 601(b)(10)(ii)(D)&nbsp;of Regulation S-K.</B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><U>Response</U></FONT>:
In response to the Staff&rsquo;s comments, we have filed the Lease Agreement as Exhibit&nbsp;10.23.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Payments Triggerable by Business Combination, page 216</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>26.</B></FONT></TD><TD><B>We note your disclosure that &quot;[t]he Company also has various agreements with Taylor Freres Americas or its affiliates (&ldquo;Taylor
Freres&rdquo;), a financial advisor, that may require payments to be made to Taylor Freres in connection with the consummation of the
business combination,&quot; and &quot;[t]he Company is unable to determine the amount of such obligations as of the date hereof.&quot;
Given that the company appears to have executed agreements with Taylor Freres, please tell us why you are unable to quantify the amount
of fees to be made in connection with the consummation of the business combination under these agreements. As a related matter, please
quantify the portion of the deferred EGS fee, if material.</B></TD></TR></TABLE>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><U>Response</U></FONT>:
In response to the Staff&rsquo;s comments, we have revised the disclosure on pages&nbsp;225, F-60, and F-85.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>General</B></P>

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<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>27.</B></FONT></TD><TD><B>We note your revised disclosure throughout your filing that &quot;the Business Combination Agreement was also amended on April&nbsp;2,
2024, to reflect the revised Merger Consideration and issuance of Pubco Common Stock upon consummation of the Business Combination.&quot;
Please revise to disclose the specific changes between the initial Merger Consideration and revised Merger Consideration, and revised
issuance of Pubco Common Stock upon consummation of the Business Combitnation.</B></TD></TR></TABLE>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><U>Response</U></FONT>:
In response to the Staff&rsquo;s comments, we have revised the disclosure on pages&nbsp;19, 143 and 184. We respectfully inform the Staff that the enterprise value of ScanTech has not changed since Mars and ScanTech
agreed upon the LOI. The Second Business Combination Agreement Amendment, entered on April 2, 2024, reflects the detailed calculation
of the number of shares of Pubco Common Stock to be paid to Company Holder Participants.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">We thank the Staff for its
review of the foregoing. If you have any questions regarding the Registration Statement, please contact Fang Liu by phone at (703) 919-7285
or via e-mail at fliu@vcllegal.com.</P>

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    <TD STYLE="width: 50%; font-size: 10pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Very truly yours,</FONT></TD></TR>
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    <TD STYLE="border-bottom: black 1pt solid; font-size: 10pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">/s/ Karl Brenza</FONT></TD></TR>
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    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Karl Brenza</P></TD></TR>
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    <TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Fang Liu,&nbsp;Esq.</FONT></TD></TR>
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    <TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">VCL Law LLP</FONT></TD></TR>
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