Rekor Announces Early Redemption of Senior Secured Notes, Strengthening Company's Financial Position [Yahoo! Finance]
Rekor Systems, Inc. (REKR)
Company Research
Source: Yahoo! Finance
state-of-the-art roadway intelligence technology, today announced its decision to early redeem all $12,500,00 of its outstanding Senior Secured Notes ("SSNs"). This reflects the Company's commitment to strengthening its balance sheet and removes a first priority lien on all the Company's assets. The redemption of all outstanding SSNs is expected to occur on March 4, 2024. A portion of the proceeds of a recent public offering were allocated to the repayment of the SSNs and holders of the SSNs also agreed to receive $1,875,000 of the redemption price in the form of 750,000 unregistered common shares at $2.50 per share. Robert A. Berman, Rekor's Chairman and CEO, is one of the holders of the SSNs. Eyal Hen, Rekor CFO, commented on the redemption, stating, "The early redemption of our Senior Secured Notes will be a significant milestone for Rekor. It frees our assets from all encumbrances and significantly reduces our interest expense. Clearing our balance sheet of secured debt will p
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REKR
News
- While institutions own 29% of Rekor Systems, Inc. (NASDAQ:REKR), individual investors are its largest shareholders with 46% ownership [Yahoo! Finance]Yahoo! Finance
- Rekor Systems to Announce First Quarter Fiscal 2024 Results Accesswire
- Rekor Systems: Risk-Reward Unattractive Due To Potential Liquidity Risk [Seeking Alpha]Seeking Alpha
- Rekor Systems Full Year 2023 Earnings: EPS Misses Expectations [Yahoo! Finance]Yahoo! Finance
- Rekor Systems, Inc. (NASDAQ: REKR) had its "outperform" rating re-affirmed by analysts at William Blair.MarketBeat
REKR
Earnings
- 11/14/23 - Miss
REKR
Sec Filings
- 4/29/24 - Form S-8
- 4/22/24 - Form 8-K
- 4/19/24 - Form 8-K
- REKR's page on the SEC website