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Rekor Systems, Inc. (NASDAQ:REKR) ("Rekor" or the "Company"), a leader in developing and implementing state-of-the-art roadway intelligence technology, today announced the pricing of its underwritten public offering of 10,000,000 shares of its common stock (the "Common Stock") at a price to the public of $2.50 per share. Closing of the offering is expected to occur on or about February 9, 2024, subject to customary closing conditions. In addition, Rekor has granted the underwriters a 30-day option to purchase up to an additional 1,500,000 shares of Common Stock at the public offering price less the underwriting discounts and commissions.
William Blair is acting as sole book-running manager for the offering. Northland Capital Markets is acting as lead manager.
The securities described above are being offered pursuant to an effective shelf registration statement on Form S-3 that was filed with the U.S. Securities and Exchange Commission (the "SEC") on September 10, 2021 and declared effective on September 23, 2021. A preliminary prospectus supplement and accompanying prospectus relating to and describing the terms of the proposed offering was filed with the SEC on February 6, 2024. The final prospectus supplement and accompanying prospectus relating to the offering will be filed with the SEC and may be obtained, when available, by contacting William Blair & Company, L.L.C., Attention: Prospectus Department, 150 North Riverside Plaza, Chicago, Illinois 60606, by telephone at (800) 621-0687 or by email at prospectus@williamblair.com; or by accessing the SEC's website at https://www.sec.gov/.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
Posted In: REKR
