Rekor Systems, Inc. (REKR): M&A transaction — Rekor acquires ATD for ~$19M; ATD FY2023 rev ~$9.5M, EBITDA ~$3M

Rekor Systems, Inc.

Acquisition of All Traffic Data Services for ~$19M ($9M cash + ~3.5M shares at $2.86/share).
ATD expected FY2023 revenue of ~$9.5M and EBITDA of ~$3M; adds 41 employees across 14 states.
Geographic expansion into western US; follows 2022 acquisition of Southern Traffic Services.
Drew Meyers (Seaport Capital partner) appointed to board; Seller gets board nomination right.
Company to host investor call Jan 9, 2024 to discuss acquisition.

item 1.01 item 2.01 item 3.02 item 5.02 item 7.01 item 8.01 item 9.01

Executive movements

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Appointed

Andrew (Drew) Meyers

Director

REKR · Rekor Systems, Inc.

Effective: 2024-01-02
Filed: January 3, 2024, 6:59 PM ET

On January 2, 2024, at the designation of Seller, the Board appointed Andrew (Drew) Meyers as a member of the Board, with such appointment to take effect immediately.

Key facts

Extracted from this filing and checked against the source text.

Executive change SEC 8-K Item 5.02 confidence 0.95

Andrew (Drew) Meyers was appointed as Director at Rekor Systems, Inc..

Action: appointed
Role: Director

Exact text from the filing

On January 2, 2024, at the designation of Seller, the Board appointed Andrew (Drew) Meyers as a member of the Board, with such appointment to take effect immediately.

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M&A Transactions SEC 8-K Item 2.01/5.01 confidence 0.9

Rekor Systems, Inc. completed an acquisition involving All Traffic Data Services, LLC (ATD) / All Traffic Holdings, LLC (Seller) for approximately $19.0 million (closed 2024-01-02).

Action: acquisition
Counterparty: All Traffic Data Services, LLC (ATD) / All Traffic Holdings, LLC (Seller)
Consideration: approximately $19.0 million
Closing: 2024-01-02

Exact text from the filing

all of the issued and outstanding limited liability company interests of ATD (the “ATD Acquisition”). The aggregate purchase price for the interests of ATD was approximately $19.0 million, subject to a customary working capital adjustment. The purchase price comprises approximately $9.0 million in cash and 3approximately 3.5 million unregistered shares of the

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Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.95

Rekor Systems, Inc. entered into Interest Purchase Agreement with All Traffic Holdings, LLC valued at approximately $19.0 million aggregate purchase price, comprising $9.0 million in cash and approximat (effective 2024-01-02).

Action: entry
Agreement: asset purchase
Counterparty: All Traffic Holdings, LLC
Value: approximately $19.0 million aggregate purchase price, comprising $9.0 million in cash and approximat
Effective: 2024-01-02

Exact text from the filing

On January 2, 2024 (the "Closing Date"), Rekor Systems, Inc. (the "Company") acquired All Traffic Data Services, LLC, a Colorado limited liability company ("ATD"), pursuant to that certain Interest Purchase Agreement (the "Purchase Agreement"), dated as of the Closing Date, by and among the Company, ATD and All Traffic Holdings, LLC (the "Seller").

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28 m&a transactions filed in the last 30 days. Browse all m&a transactions →

Rekor Systems, Inc. filing history →

Source: SEC EDGAR

accession 0001654954-24-000099

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