Creative Realities Inc - CREX STOCK NEWS

Creative Realities, Inc. (NASDAQ: CREX) announced a private placement with a U.S. institutional investor, offering 1,315,000 shares of common stock and warrants, along with 5,851,505 pre-funded warrants. The pricing is set at $1.535 for common stock and $1.5349 for pre-funded warrants. The proceeds will partially fund the merger with Reflect Systems, expected to close by February 15, 2022, alongside a $10 million secured term debt financing. The private placement closes on or about February 4, 2022, pending customary conditions.

Creative Realities, Inc. (NASDAQ: CREX) and Reflect Systems, Inc. have won a major project to deploy digital experiences for a retail customer, valued at over $10 million. This is the first joint project following their planned merger, expected to close in February 2022. The collaboration aims to strengthen their market offerings and meet the evolving needs of retailers post-pandemic. The combined capabilities are poised to enhance digital signage applications across various industries, positioning the firms as leaders in the sector.

Creative Realities, Inc. (NASDAQ: CREX) and Reflect Systems, Inc. have provided an update regarding their pending merger. As of January 28, 2022, both companies convened and then adjourned special stockholder meetings to allow time for stakeholders to review a forthcoming financial supplement. Creative Realities is in discussions with lender Slipstream Communications and advisor A.G.P./Alliance Global Partners to secure necessary capital for the merger and ongoing operations. Meetings are set to reconvene on February 15, 2022.

Creative Realities (NASDAQ: CREX) announced an expansion of its collaboration with a leading global automaker, adding 440 Canadian dealerships to its digital marketing solutions network, which already includes 2,600 U.S. dealerships. This deployment is expected to be completed by Q2 2022. The CRI platform features iShowroom, an omnichannel sales tool, and Owner Support+, a vehicle delivery tool that has improved customer satisfaction and increased vehicle enrollments by over 40% since 2017. CRI aims to extend its services further into international markets.

Creative Realities reported financial results for Q3 2021, indicating a revenue of $4.8 million, down 7% from 2020. Core digital signage revenue surged by 50%, increasing by $1.5 million, while hardware revenue fell by 21% due to supply chain issues. The company maintained a positive EBITDA of $0.5 million, marking its fifth consecutive quarter of profitability. Looking ahead, CRI anticipates improved customer budgets in 2022 and plans a merger with Reflect Systems to enhance its market position in digital signage and advertising.

Creative Realities, Inc. (NASDAQ: CREX) and Reflect Systems, Inc. have entered into a definitive merger agreement, aiming to create a leading provider in the digital signage industry. The merger will utilize both companies' strengths, with CRI focusing on large-scale projects and Reflect offering advanced content management software. The combined entity will retain the Creative Realities name and headquarters in Louisville, while also maintaining Reflect's Dallas office. The merger is anticipated to close in Q1 2022, positioning the companies for significant growth and enhanced service offerings.

Creative Realities, Inc. (NASDAQ: CREX) will release its financial results for Q3 2021 after market close on November 15, 2021. A conference call for discussion of the results is scheduled for November 16, 2021, at 9:00 am ET, hosted by CEO Rick Mills and CFO Will Logan. Participants must register to access the live webcast. Creative Realities provides digital marketing solutions and operates across various sectors including automotive, retail, and entertainment, with installations in over 10 countries, focusing on enhancing customer experiences through advanced technologies.

Creative Realities (NASDAQ: CREX) announced its financial results for Q2 2021, revealing revenue of $3.3 million, a 10% decline year-over-year. Despite challenges from semiconductor supply chain disruptions, the company achieved net income of $1 million and EBITDA of $1.9 million. Hardware revenues fell by 19% due to display delivery delays, while services revenue decreased slightly. Notably, ongoing customer purchase orders exceed $1.8 million, with expectations of revenue timing shifts rather than losses. Creative Realities also reported significant cost reductions, benefiting from Employee Retention Credits.