secwatch.observer — SEC 8-K summary
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Issuer:     Rekor Systems, Inc. (REKR)
CIK:        0001697851
Form:       8-K
Filed at:   2024-06-26T23:59:59+00:00
Accession:  0001654954-24-008236
Event type: other_material
Sentiment:  neutral
Materiality: 0.55
Item codes: 1.01, 3.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1697851/000165495424008236/0001654954-24-008236-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1697851/000165495424008236/rekr_8k.htm
  HTML page:      https://secwatch.observer/filing/0001654954-24-008236

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