ScanTech Identification Beam Systems, which develops next-generation “fixed-gantry” computed tomography screening systems signed a contract with Visiontec Systems to provide ScanTech's CT screening systems to the North American power producer. Terms of the multimillion-dollar contract call for Visiontec to deliver, integrate, install, train and provide long term technical support for ScanTech's SENTINEL CT Checkpoint Baggage Scanning System to provide security screening for large-scale critical nuclear power infrastructure in Canada.
ScanTech and Mars Acquisition announced a merger agreement in September at a pro forma enterprise value of $149.5 million.
The combined company is expected to have an estimated equity value of $197.5 million and $48 million in net cash, assuming no redemptions by Mars' shareholders. Net cash will come from Mars' approximately $72 million of cash in trust. Read more.
Source: SPAC-Tied ScanTech Contracts with Visiontec Systems for Multimillion-Dollar Security Systems