UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM
CURRENT REPORT
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Item 8.01 | Other Events. |
As previously reported by its Current Report on Form 8-K filed with the Securities and Exchange Commission on February 9, 2024, Rekor Systems, Inc. (the “Company”) issued and sold 10,000,000 shares of Common Stock, par value $0.0001 per share (the “Common Stock”), at an offering price of $2.50 per share of Common Stock (the “Public Offering Price”) in a registered public offering by the Company (the “Public Offering”), pursuant to an underwriting agreement with William Blair & Company, L.L.C., as representative of the several underwriters named therein (collectively, the “Underwriters”).
On February 9, 2024, the Underwriters exercised in-full their option to purchase up to 1,500,000 additional shares of Common Stock at the Public Offering Price (the “Underwriters’ Option”). The exercise closed on February 13, 2024. The net proceeds to the Company for the exercise of the Underwriters’ Option, after deducting the underwriting discounts and commissions and estimated offering expenses payable by the Company, is expected to be approximately $3.5 million, or approximately $26.4 million in aggregate for the Public Offering including the exercise of the Underwriters’ Option.
A copy of the press release issued by the Company announcing the closing of the exercise of the Underwriters’ Option is attached hereto as Exhibit 99.1, and is incorporated herein by reference.
Item 9.01. | Financial Statements and Exhibits. |
(d) Exhibits
Exhibit No. |
Description | |
99.1 | Press Release dated February 13, 2024. | |
104 | Cover Page Interactive Data File (embedded within the inline XBRL document) |
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
REKOR SYSTEMS, INC. | ||||||
Date: February 13, 2024 | /s/ Robert A. Berman | |||||
Name: | Robert A. Berman | |||||
Title: | Chief Executive Officer |