Rekor Systems Announces Pricing Of Follow-On Public Offering Of 10M Shares Of Common Stock At A Price Of $2.50/Share
Portfolio Pulse from Benzinga Newsdesk
Rekor Systems, Inc. (NASDAQ:REKR) announced the pricing of a follow-on public offering of 10 million shares at $2.50 each, expected to close on February 9, 2024. The offering includes an option for underwriters to purchase up to an additional 1.5 million shares. William Blair is the sole book-running manager, with Northland Capital Markets as the lead manager. The offering is made under an effective shelf registration statement filed with the SEC.
February 07, 2024 | 1:42 pm
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Rekor Systems announces a follow-on public offering of 10M shares at $2.50 each, with potential additional 1.5M shares for underwriters.
The announcement of a follow-on public offering typically leads to potential stock dilution, which can negatively impact the stock price in the short term. The pricing of the offering at $2.50 per share and the significant number of shares being offered could lead to increased supply of the stock in the market, potentially putting downward pressure on the stock price.
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