Rekor Systems Fully Repays $15 Million Pre-Paid Advance to Investor

Rekor Systems, Inc. (NASDAQ:REKR) recently announced the complete repayment of a $15 million Pre-Paid Advance to its investor, YA II PN, Ltd., a Cayman Islands exempt limited company affiliated with Yorkville Advisors Global, LP. The repayment, in accordance with the terms of the Pre-Paid Advance Agreement (PPA), was confirmed by Rekor Systems on January 6, 2025.

The Pre-Paid Advance, initially established under the PPA as detailed in prior Current Reports on Form 8-K submitted on August 14, 2024, and October 22, 2024, marks a significant financial development for Rekor Systems. The company disclosed in a press release dated December 31, 2024, that the repayment of the Pre-Paid Advance had been successfully fulfilled in compliance with the PPA terms.

A press release reporting the complete repayment of the Pre-Paid Advance has been made available to the public. Additional details regarding this development can be found in the Exhbit 99.1 attached to the formal filing.

Furthermore, as mandated by the disclosure rules, Rekor Systems also provided Exhibit 104, comprising the Cover Page Interactive Data File embedded within the Inline XBRL document.

The successful resolution of this financial commitment underscores Rekor Systems’ commitment to its financial obligations and showcases a positive step in maintaining a healthy financial profile.

The report concerning the full repayment of the Pre-Paid Advance was officially signed by Eyal Hen, Chief Financial Officer of Rekor Systems, on January 6, 2025.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read Rekor Systems’s 8K filing here.

Rekor Systems Company Profile

Rekor Systems, Inc, a technology company, provides infrastructure solutions for transportation, public safety, and urban mobility markets in the United States and internationally. The company's platforms include Rekor One, an AI-powered roadway intelligence platform; Rekor Command, a comprehensive cross-agency platform that offers various applications for traffic management centers, freeway service patrol, first responders, and maintenance crews; Rekor Discover, a platform that ingests data from its hardware and automates comprehensive analytics and actionable insights about the movement of objects across the roadway; and Rekor Scout platform, which automates previously manual processes with collaborative solutions that keep all stakeholders apprised of developing situations and accelerate reaction times to incidents and offenders.