secwatch.observer — SEC 8-K summary
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Issuer:     Rekor Systems, Inc. (REKR)
CIK:        0001697851
Form:       8-K
Filed at:   2023-07-27T23:59:59+00:00
Accession:  0001193125-23-194781
Event type: other_material
Sentiment:  neutral
Materiality: 0.70
Item codes: 1.01, 3.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Rekor Systems raises $11M via warrant exercise, issues new warrants for 2.85M shares
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- Exercising holder paid $10.996M to exercise 6,872,853 existing warrants at $1.60/share; Rekor issued 6,872,853 common shares.
- In consideration, Rekor issued new unregistered warrants to purchase 2,850,000 shares at $3.25, expiring Jan 25, 2029.
- Company to file resale registration statement for new warrant shares within 45 days; new warrants not registered initially.
- Holder agrees to no short sales for 6 months; volume cap of 5% of prior day's volume or 15% of 5-day volume.
- Company restricted from variable rate transactions for 6 months and securities issuances for 90 days (with exceptions).

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1697851/000119312523194781/0001193125-23-194781-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1697851/000119312523194781/d526554d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-23-194781

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer