Crowell & Moring Advises Rekor on Registered Direct Offering Priced At-the-Market

Washington – April 6, 2023: Crowell & Moring advised Rekor Systems, Inc. (Nasdaq: REKR), as it entered into a definitive agreement for the issuance and sale in a registered direct offering priced at-the-market under Nasdaq rules of an aggregate of 6,872,853 shares of its common stock and warrants to purchase up to 6,872,853 shares of common stock. The offering closed on March 27, 2023, resulting in up-front gross proceeds to Rekor of approximately $10 million. 

 

Rekor is a global AI technology company with a mission to provide insights that build safer, smarter, and more efficient cities around the world through intelligent infrastructure. Crowell & Moring partners William Bruno and Lex Eley represented Rekor in connection with the transaction. Crowell & Moring’s capital markets team represents issuers and underwriters in registered and unregistered equity, equity-linked and debt capital markets transactions, including initial public offerings, follow-on equity offerings, equity-linked securities offerings, and offerings of debt securities.

About Crowell & Moring LLP

Crowell & Moring LLP is an international law firm with offices in the United States, Europe, MENA, and Asia. Drawing on significant government, business, industry and legal experience, the firm helps clients capitalize on opportunities and provides creative solutions to complex litigation and arbitration, regulatory and policy, and corporate and transactional issues.  The firm is consistently recognized for its commitment to pro bono service and its programs and initiatives to advance diversity, equity and inclusion.  

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