Olshan Represents Rekor Systems, Inc. in the Sale of $15M of Revenue Sharing Notes

Olshan represented Rekor Systems, Inc., a leader in developing and implementing state-of-the-art roadway intelligence systems using AI enabled computer vision and machine learning, in the sale of a registered offering of $15 million in aggregate principal amount of its 13.25% Series A Prime Revenue Sharing Notes due Dec. 15, 2026. Proceeds of the sale are expected to be used for expansion and working capital purposes. The Series A Notes are the first to be issued pursuant to and secured under an Indenture of Trust, which pledges revenues from a pool of contracts with Rekor's prime customers. Corporate partner Jason Saltsberg led the Olshan team in this transaction, which consisted of corporate partners Spencer Feldman, Kenneth Schlesinger, Michael Neidell and counsel Sasson Marcus, tax partner K.C. Chiang, corporate associates Zachary Freedman, Joshua Park and Dakota Forsyth and corporate law clerk Judith Renner.

• Corporate/Securities Law
• Tax & Personal Planning