Current Report Filing (8-k)
03 Giugno 2020 - 10:46PM
Edgar (US Regulatory)
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
____________________
FORM 8-K
____________________
CURRENT REPORT
Pursuant to Section 13 or 15(d) of
the Securities Exchange Act of 1934
Date of
Report (Date of earliest event reported): June 3, 2020
____________________
REKOR SYSTEMS, INC.
(Exact
name of registrant as specified in its charter)
Delaware
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001-38338
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81-5266334
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(State
or Other Jurisdiction of Incorporation)
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(Commission
File Number)
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(IRS
Employer Identification No.)
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7172 Columbia Gateway Drive, Suite 400, Columbia, MD
21046
(Address
of Principal Executive Offices)
Registrant's
Telephone Number, Including Area Code: (410)
762-0800
Check
the appropriate box below if the Form 8-K filing is intended to
simultaneously satisfy the filing obligation of the registrant
under any of the following provisions:
☐ Written communications pursuant to
Rule 425 under the Securities Act (17 CFR 230.425)
☐ Soliciting material pursuant to
Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐ Pre-commencement communications
pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR
240.14d-2(b))
☐ Pre-commencement communications
pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR
240.13e-4(c))
Securities registered pursuant to Section 12(b) of the
Act:
Title
of each class
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Trading
Symbol(s)
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Name of
each exchange on which registered
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Common
Stock, $0.0001 par value per share
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REKR
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The
Nasdaq Stock Market
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Indicate
by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the
Securities Act of 1933 (§230.405 of this chapter) or Rule
12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this
chapter)
Emerging
Growth Company ☐
If
an emerging
growth company, indicate
by check mark if the registrant has elected not to use the extended
transition period for complying with any new or revised financial
accounting standards provided pursuant to Section 13(a) of the Exchange Act.
☐
Item
1.01 Entry into a Material Definitive Agreement.
Rekor Recognition Systems, Inc – PPP Loan
On
June 3, 2020, Rekor Recognition Systems, Inc., a Delaware
corporation (“Rekor Recognition”) and wholly owned
subsidiary of Rekor Systems, Inc., a Delaware corporation (the
“Company”), entered into a promissory note with Newtek
Small Business Finance, LLC, which provides for a loan in the
principal amount of $652,600 (the “Rekor Recognition PPP Loan
Note”) pursuant to the Paycheck Protection Program under the
Coronavirus Aid, Relief, and Economic Security Act (the
“CARES Act”). The Rekor Recognition PPP Loan Note has a
two-year term and bears interest at a rate of 1.0% per annum.
Monthly principal and interest payments are deferred for six months
after the date of disbursement. The Rekor Recognition PPP Loan Note
may be prepaid at any time prior to maturity with no prepayment
penalties. The Rekor Recognition PPP Loan Note contains events of
default and other provisions customary for a loan of this type. The
Paycheck Protection Program provides that the Rekor Recognition PPP
Loan Note may be partially or wholly forgiven if the funds are used
for certain qualifying expenses as described in the CARES Act.
Rekor Recognition intends to use the entire Rekor Recognition PPP
Loan Note amount for qualifying expenses and to apply for
forgiveness of the loan in accordance with the terms of the CARES
Act.
The
foregoing description of the Rekor Recognition PPP Loan Note does
not purport to be complete and is qualified in its entirety by
reference to the complete text of the Rekor Recognition PPP Loan
Note. A copy of the Rekor Recognition PPP Loan Note is filed as
Exhibit 10.1 to this Current Report on Form 8-K and is incorporated
by reference herein.
Item 2.03
Creation of a Direct Financial Obligation
The disclosure set forth above in Item 1.01 is incorporated by
reference herein.
Item
9.01. Financial Statements and Exhibits
(d)
Exhibits.
The following exhibits are filed herewith:
Exhibit Number
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Description
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Rekor
Recognition Systems, Inc PPP Loan Note dated as of May 29,
2020
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SIGNATURE
Pursuant to the
requirements of the Securities Exchange Act of 1934, the registrant
has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
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REKOR SYSTEMS, INC.
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Date:
June 3, 2020
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/s/
Robert A. Berman
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Name:
Robert A. Berman
Title:
President and Chief Executive Officer
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Grafico Azioni Rekor Systems (QB) (USOTC:REKRW)
Storico
Da Mag 2024 a Giu 2024
Grafico Azioni Rekor Systems (QB) (USOTC:REKRW)
Storico
Da Giu 2023 a Giu 2024