Rekor Systems Repays $15 Million in Yorkville Advisors Debt Early; Shares Rise

MT Newswires Live

01-07

Rekor Systems (REKR) said Monday it has repaid the outstanding balance of $15 million under an August 2024 prepaid advance agreement with Yorkville Advisors Global.

"By eliminating this obligation early, we have enhanced our balance sheet flexibility," said Eyal Hen, Rekor's CFO.

Separately, Rekor said Monday the New Mexico Department of Transportation has expanded its use of the company's traffic analytics systems.

The latest deployment is in addition to an initial phase one deployment announced in January 2024, Rekor said.

Financial details weren't provided for the New Mexico project.

Rekor shares were 24% higher in recent trading.

Price: 2.34, Change: +0.51, Percent Change: +27.81

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