COLUMBIA, MD – Rekor Systems, Inc. (NASDAQ:), a specialist in road intelligence technology, completed its public offering, selling 10 million shares at $2.50 each. The deal, which closed today, is expected to bring the company approximately $22.9 million after discounts and estimated expenses.
The offering also includes an option for the underwriters to purchase up to 1.5 million additional shares during a 30-day period. William Blair was the sole book-running manager and Northland Capital Markets was the lead manager.
This offering was made pursuant to a shelf registration statement filed with the U.S. Securities and Exchange Commission (SEC) on September 10, 2021, and was declared effective on September 23, 2021. Details of the offering were set forth in a definitive prospectus supplement and the prospectus filed accompanying it. with SEC February 8, 2024
Rekor Systems is known for its cutting-edge application of artificial intelligence in traffic management and highway systems. Rekor’s One® Roadway Intelligence Engine is the cornerstone of its technology, allowing it to analyze vast amounts of data to improve traffic understanding.
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