secwatch.observer — SEC 8-K summary
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Issuer:     Rekor Systems, Inc. (REKR)
CIK:        0001697851
Form:       8-K
Filed at:   2024-08-14T23:59:59+00:00
Accession:  0001193125-24-200632
Event type: debt
Sentiment:  neutral
Materiality: 0.75
Item codes: 1.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Rekor Systems enters $15M prepaid advance with Yorkville; potential additional $20M
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- Initial advance of $15M; net proceeds ~$14.1M after 6% original issue discount.
- Potential second advance of $20M within one year, subject to conditions.
- Conversion price: lower of $2.50 or 93% of 5-day VWAP; floor $0.28 per share.
- Matures August 28, 2025; 0% interest (18% on default).
- Monthly conversion cap of $2.625M; 90-day standstill; no short sales permitted.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1697851/000119312524200632/0001193125-24-200632-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1697851/000119312524200632/d883273d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-24-200632

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