Rekor Systems Raises $22.9M in Public Share Offering

Rekor Systems Inc (REKR) has released an update to notify the public and investors about an entry into a material definitive agreement.

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.

For further insights into REKR stock, check out TipRanks’ Stock Analysis page.

For a comprehensive understanding of the announcement, you can read the full document here.