Rekor Systems Inc (REKR) has released an update to notify the public and investors about an entry into a material definitive agreement.
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Rekor Systems, Inc. successfully completed a registered public offering on February 7, 2024, where they sold 10 million shares at $2.50 each, raising approximately $22.9 million after costs. Managed by William Blair & Company, the deal also included an option for underwriters to acquire an additional 1.5 million shares. In conjunction with the offering, company insiders agreed to a 90-day lock-up period on selling their shares, ensuring stability post-offering.
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For a comprehensive understanding of the announcement, you can read the full document here.
