Rekor Systems Files 8-K on 'Other Events' and Financial Exhibits

TL;DR

**Rekor Systems just dropped an 8-K for 'Other Events' and financials, so keep an eye out for details!**

AI Summary

Rekor Systems, Inc. filed an 8-K on February 26, 2024, reporting an 'Other Event' and 'Financial Statements and Exhibits'. The filing indicates a current report pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934, with the earliest event reported also on February 26, 2024. The company, incorporated in Delaware with IRS Employer Identification No. 81-5266334, maintains its principal executive offices at 6721 Columbia Gateway Drive, Suite 400, Columbia, MD 21046.

Why It Matters

This filing signals that Rekor Systems has an event or information deemed significant enough to warrant immediate disclosure to investors, potentially impacting market perception or future financial outlook.

Risk Assessment

Risk Level: medium — The 'Other Events' category is broad and could indicate anything from minor operational changes to significant strategic shifts, making the specific impact currently unknown.

Key Players & Entities

• Rekor Systems, Inc. (company) — Registrant
• February 26, 2024 (date) — Date of earliest event reported and filing date
• Delaware (location) — State of Incorporation
• 81-5266334 (other) — IRS Employer Identification No.
• 6721 Columbia Gateway Drive, Suite 400, Columbia, MD 21046 (location) — Address of Principal Executive Offices

FAQ

Key Financial Figures

• $0.0001 — ange on which registered Common Stock, $0.0001 par value per share REKR The Nasdaq
• $12,500,000 — ch 4, 2024 (the "Redemption Date"), all $12,500,000 aggregate principal amount of the outst
• $1,875,000 — The noteholders have elected to accept $1,875,000 of the Redemption Payment in the form o
• $2.50 — ue $0.0001 per share, having a value of $2.50 per share, with the remainder of the Re

Filing Documents

• rekr_8k.htm (8-K) — 27KB
• rekr_ex991.htm (EX-99.1) — 8KB
• rekr_ex991img1.jpg (GRAPHIC) — 6KB
• 0001654954-24-002166.txt ( ) — 168KB
• rekr-20240226.xsd (EX-101.SCH) — 6KB
• rekr-20240226_lab.xml (EX-101.LAB) — 14KB
• rekr-20240226_cal.xml (EX-101.CAL) — 1KB
• rekr-20240226_pre.xml (EX-101.PRE) — 9KB
• rekr-20240226_def.xml (EX-101.DEF) — 2KB
• rekr_8k_htm.xml (XML) — 4KB

01 Other Events

Item 8.01 Other Events. On February 26, 2024, the Rekor Systems, Inc. (the "Company") issued a press release announcing that it intends to redeem, on March 4, 2024 (the "Redemption Date"), all $12,500,000 aggregate principal amount of the outstanding senior secured notes (the "Senior Secured Notes") issued on January 18, 2023. On the Redemption Date, the Company will pay the applicable early redemption price equal to 115% of the principal amount of such Senior Secured Notes and accrued and unpaid interest on such Senior Secured Notes to the Redemption Date. Upon payment in full on the Redemption Date (the "Redemption Payment"), interest on the Senior Secured Notes will cease to accrue on and after the Redemption Date. The noteholders have elected to accept $1,875,000 of the Redemption Payment in the form of 750,000 unregistered shares of the Company's common stock, par value $0.0001 per share, having a value of $2.50 per share, with the remainder of the Redemption Payment to be paid in cash. Following the payment of the Redemption Payment on the Redemption Date, there will be no Senior Secured Notes that remain outstanding. The Company has distributed a notice of redemption to all noteholders. A copy of the press release issued by the Company announcing its planned redemption of the Senior Secured Notes on March 4, 2024 is attached hereto as Exhibit 99.1, and is incorporated herein by reference.

Forward-Looking Statements

Forward-Looking Statements This Current Report on Form 8-K contains forward-looking statements within the meaning of U.S. federal securities laws. Such forward-looking statements include, but are not limited to, statements regarding the expectations, hopes, beliefs, intentions, plans, prospects or strategies of the Company. Any statements contained herein that are not statements of historical fact may be deemed to be forward-looking statements. In addition, any statements that refer to projections, forecasts or other characterizations of future events or circumstances, including any underlying assumptions, are forward-looking statements. The words "anticipate," "believe," "continue," "could," "estimate," "expect," "intends," "may," "might," "plan," "possible," "potential," "predict," "project," "should," "would" and similar expressions may identify forward-looking statements, but the absence of these words does not mean that a statement is not forward-looking. The forward-looking statements contained in this Current Report on Form 8-K are based on certain assumptions and analyses made by the management of the Company in light of their respective experience and perception of historical trends, current conditions and expected future developments and their potential effects on the Company as well as other factors they believe are appropriate in the circumstances. There can be no assurance that future developments affecting the Company will be those anticipated. These forward-looking statements involve a number of risks, uncertainties (some of which are beyond the control of the parties) or other assumptions that may cause actual results or performance to be materially different from those expressed or implied by these forward-looking statements. Should one or more of these risks or uncertainties materialize, or should any of the assumptions being made prove incorrect, actual results may vary in material respects from those projected in these forward-looking statement

01. Financial Statements and Exhibits

Item 9.01. Financial Statements and Exhibits. (d) Exhibits Exhibit No. Description 99.1 Press Release dated February 26, 2024. 2 SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. REKOR SYSTEMS, INC. Date: February 26, 2024 /s/ Robert A. Berman Name: Robert A. Berman Title: Chief Executive Officer 3

View Full Filing

View this 8-K filing on SEC EDGAR