Rekor Systems Inc Stock Price, News & Analysis

Rekor Systems (NASDAQ: REKR) has been chosen by the State of North Dakota Parks and Recreation Department to pilot its Rekor One™ solution at Icelandic, Fort Stevenson, and Fort Abraham Lincoln State Parks. This new platform will replace outdated data collection systems, enabling authorities to gather real-time usage patterns, enhance visitor safety, and support strategic planning. The goal is to eventually implement this technology across all 15 destination parks, facilitating improved traffic management and marketing efforts.

Rekor Systems (NASDAQ:REKR) announced the successful closing of its public offering, selling 6,126,936 shares at $12.25 per share, yielding approximately $75.1 million in gross proceeds. The offering included an exercise of the underwriters' option for an additional 799,166 shares. Funds will be allocated for general corporate purposes, including working capital and potential acquisitions. The offering was managed by B. Riley Securities and Lake Street Capital Markets, with an effective shelf registration statement filed with the SEC.

Rekor Systems (NASDAQ:REKR) has announced a public offering of 5,327,773 shares of common stock at $12.25 per share, aiming to generate approximately $65.3 million in gross proceeds. The offering will close around February 9, 2021. Underwriters also have a 30-day option to purchase an additional 799,166 shares. Proceeds will be allocated for general corporate purposes, including potential acquisitions or investments in related technologies. The offering is detailed in a prospectus filed with the SEC.

Rekor Systems, Inc. (NASDAQ:REKR), a Maryland-based AI-driven roadway intelligence provider, announced a proposed underwritten public offering of common stock. This offering includes a 30-day option for underwriters to purchase additional shares. The proceeds will be utilized for general corporate purposes, including capital expenditures and possible acquisitions. The offering is subject to market conditions, and no assurance is given on its completion or terms. Rekor's technology aids in various sectors like public safety and smart cities, promoting enhanced decision-making.

Rekor (NASDAQ:REKR) announced that CEO Robert A. Berman will present at NobleCon17 on January 19, 2021, at 2:15 PM EST. The conference allows Rekor to share its advancements, including the launch of the Rekor One platform in Oklahoma, their first mobile app Rekor Go, and improvements in data privacy and security through Rekor Scout. The event will run from January 19 to 20, 2021, and interested investors can register for the virtual conference.

Rekor provides AI-driven vehicle recognition solutions for public safety and smart cities across over 70 countries.

Rekor Systems has launched a significant update to its AI-driven vehicle recognition software, now called Rekor Scout. This update improves privacy and security controls, allowing commercial and government users to define data retention policies tailored to specific infractions. Key features include the Rekor Public Safety Network for data sharing among agencies, peer-to-peer sharing capabilities, and an open API for enhanced data ownership. Pricing ranges from $5 to $79 per month, with a free 14-day trial for new customers. This development positions Rekor as a leader in vehicle recognition technology.

Rekor Systems (NASDAQ: REKR) has successfully integrated its Rekor One™ platform into Oklahoma’s Uninsured Vehicle Enforcement Diversion Program in just 61 days. The program aims to identify uninsured vehicles and connect drivers to affordable insurance, addressing the issue where up to 26% of vehicles on Oklahoma roads are uninsured. By leveraging real-time vehicle recognition technology, the initiative enhances roadway safety and ensures compliance with insurance regulations.

Rekor Systems launched Rekor Go, a mobile application that allows users to recognize vehicles and license plates without needing Wi-Fi or cellular service. The app captures data in real-time, storing images and metadata for 30 days. Users can manage alerts and export data seamlessly. Pricing is set at $9.99 per month or $89.99 annually, making it accessible for various commercial applications. The app aims to enhance security for events, schools, and parking management. Rekor also plans to release another vehicle recognition app for law enforcement in 2021.