Rekor Systems to redeem all $12.5 million secured notes at 115

By Mary-Katherine Stinson

Lexington, Ky., Feb. 26 – Rekor Systems, Inc. announced it intends to redeem in full its $12.5 million outstanding senior secured notes issued on Jan. 18, 2023, according to an 8-K filing with the Securities and Exchange Commission.

The notes will be redeemed at 115 plus accrued interest on the redemption date of March 4.

The noteholders have elected to accept $1,875,000 of the redemption payment in the form of 750,000 unregistered shares of the company’s common stock, having a value of $2.50 per share, with the remainder of the redemption payment to be paid in cash.

Following the redemption, no notes will remain outstanding.

Rekor Systems provides real-time roadway intelligence. Headquarters are in Columbia, Md.

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