Rekor Terminates "At-The-Market" Facility
Rekor Systems, Inc. (NASDAQ:REKR) has terminated its at-the-market equity offering program with B. Riley, effective immediately. This decision comes after the Company has not sold any stock through the ATM since September 2022. The termination aligns with a new financing initiative announced by Rekor. The Company continues to focus on providing advanced AI technology for intelligent infrastructure aimed at enhancing safety and sustainability in urban areas.
- Termination of the ATM Offering may indicate a shift towards more strategic financing options.
- No shares were sold through the ATM since September 2022, protecting existing shareholder value.
- The halt of the ATM Offering may raise concerns about liquidity and alternate funding sources.
COLUMBIA, MD / ACCESSWIRE / December 21, 2022 / Rekor Systems, Inc. (NASDAQ:REKR) ("Rekor" or the "Company"), a global AI technology company with a mission to provide insights that build safer, smarter, and greener cities through intelligent infrastructure, announced today the termination of its "at-the-market" equity offering program (the "ATM Offering") with B. Riley as sales agent. The Company elected to terminate the ATM Offering in connection with the financing announced this morning by the Company. Rekor has terminated its ATM Offering with B. Riley, effective immediately. The Company has not sold any stock through the ATM since September 2022, which sales were disclosed in the Company's third quarter filing.
About Rekor Systems, Inc.
Rekor Systems, Inc. (NASDAQ:REKR) is a trusted global authority on intelligent infrastructure providing innovative solutions that drive the world to be safer, smarter, and greener. As a provider of comprehensive, continuous, and real-time roadway intelligence, Rekor leverages AI, machine learning, and holistic data to support the intelligent infrastructure that is essential for smart mobility. With its disruptive technology, the Company delivers integrated solutions, actionable insights, and predictions that increase roadway safety. To learn more, please visit our website: https://rekor.ai, and follow Rekor on social media on LinkedIn, Twitter, and Facebook.
Forward-Looking Statements
This press release and its links and attachments contain statements concerning Rekor Systems, Inc. and its future expectations, plans, and prospects that constitute "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, including statements regarding the impact of Rekor's core suite of AI-powered technology and the size and shape of the global market for ALPR systems. Such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. For this purpose, any statements that are not statements of historical fact may be deemed to be forward-looking statements. In some cases, you can identify forward-looking statements by terms such as "may," "should," "expects," "plans," "anticipates," "could," "intends," "target," "projects," "contemplates," "believes," "estimates," "predicts," "potential," or "continue," by the negative of these terms or by other similar expressions. You are cautioned that such statements are subject to many risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual circumstances, events or results may differ materially from those projected in the forward-looking statements, particularly as a result of various risks and other factors identified in our filings with the Securities and Exchange Commission. All forward-looking statements contained in this press release speak only as of the date on which they were made and are based on management's assumptions and estimates as of such date. We do not undertake any obligation to publicly update any forward-looking statements, whether as a result of the receipt of new information, the occurrence of future events, or otherwise.
Media & Investor Relations Contact:
Rekor Systems, Inc.
Charles Degliomini
ir@rekorsystems.com
SOURCE: Rekor Systems, Inc.
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