Rekor receives $5.1M from warrant exercise by related-party holders, issues 3.675M shares

Rekor Systems, Inc.

Gross proceeds of $5.145M from exercise of January 2023 warrants at reduced exercise price of $1.40/share.
Exercise price reduced 40% from $2.00 to $1.40; shares issuable reduced from 5.25M to 3.675M.
Related-party holders: Avon (affiliated with Exec Chairman Berman) receives 700k shares; Arctis (board member Mehta) receives 2.275M shares.
Company received payment for 1.4M shares; expects remaining ~$3.185M by July 1, 2024.
Registration statement for resale of warrant shares to be filed within 30 days.

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