Rekor Systems Files 8-K for Material Agreement

TL;DR

Rekor Systems signed a big deal, filing an 8-K today.

AI Summary

On October 22, 2024, Rekor Systems, Inc. filed an 8-K to report the entry into a material definitive agreement. The filing also includes financial statements and exhibits related to this agreement. Specific details of the agreement, including parties involved and financial terms, are not fully disclosed in the provided text.

Why It Matters

This filing indicates a significant new contract or partnership for Rekor Systems, which could impact its future revenue and operations.

Risk Assessment

Risk Level: medium — The filing indicates a material definitive agreement, which could be positive or negative depending on the terms not fully disclosed.

Key Players & Entities

• Rekor Systems, Inc. (company) — Registrant
• October 22, 2024 (date) — Date of earliest event reported
• Novume Solutions, Inc. (company) — Former company name

FAQ

Key Financial Figures

• $0.0001 — e on which registered Common Stock, $0.0001 par value per share REKR The Nasdaq
• $15,000,000 — ed to the Company a pre-paid advance of $15,000,000 (the "Pre-Paid Advance"). Pursuant to
• $20,000,000 — the Company could receive an additional $20,000,000 advance on the same terms as the Pre-Pa

Filing Documents

• rekr_8k.htm (8-K) — 23KB
• rekr_ex101.htm (EX-10.1) — 18KB
• 0001654954-24-013194.txt ( ) — 166KB
• rekr-20241022.xsd (EX-101.SCH) — 6KB
• rekr-20241022_lab.xml (EX-101.LAB) — 14KB
• rekr-20241022_cal.xml (EX-101.CAL) — 1KB
• rekr-20241022_pre.xml (EX-101.PRE) — 9KB
• rekr-20241022_def.xml (EX-101.DEF) — 2KB
• rekr_8k_htm.xml (XML) — 4KB

01 Entry into a Material Definitive Agreement

Item 1.01 Entry into a Material Definitive Agreement. Amendment No. 1 to Pre-Paid Advance Agreement As previously reported by Current Report on Form 8-K on August 14, 2024, Rekor Systems, Inc. (the "Company") entered into a Pre-Paid Advance Agreement (the "PPA") with YA II PN, Ltd., a Cayman Islands exempt limited company (the "Investor"), an affiliate of Yorkville Advisors Global, LP. In accordance with the terms of the PPA, the Investor advanced to the Company a pre-paid advance of $15,000,000 (the "Pre-Paid Advance"). Pursuant to the terms of the PPA, within one year the Company could receive an additional $20,000,000 advance on the same terms as the Pre-Paid Advance, subject to satisfaction of certain conditions set forth in the PPA (the "Optional Additional Advance"). On October 22, 2024, the Company and the Investor entered into Amendment No.1 to the Pre-Paid Advance Agreement (the "Amendment") to eliminate the Optional Additional Advance from the PPA. All other terms and provisions of the PPA remain unchanged and in full force and effect. The foregoing is a summary description of certain terms of the Amendment. For a full description of all terms, please refer to the copy of the Amendment that is filed herewith as Exhibit 10.1 to this Current Report on Form 8-K and is incorporated herein by reference.

01. Financial Statements and Exhibits

Item 9.01. Financial Statements and Exhibits. (d) Exhibits Exhibit No. Description 10.1 Amendment No. 1 to Prepaid Advance Agreement, dated October 22, 2024, by and between Rekor Systems, Inc. and YA II PN, Ltd. 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: October 22, 2024 /s/ Eyal Hen Name: Eyal Hen Title: Chief Financial Officer 3

View Full Filing

View this 8-K filing on SEC EDGAR