Rekor Systems prices 10M shares a $2.50 in underwritten public offering

Rekor Systems announced the pricing of its underwritten public offering of 10,000,000 shares of its 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.