Exhibit 5.1
1001 Pennsylvania Avenue, NW, Washington, DC 20004-2595 ◾ p202 624-2500 ◾ f202 628-5116
February 9, 2024
Rekor Systems, Inc.
6721 Columbia Gateway Drive
Suite 400
Columbia, MD 21046
Attn: Robert A. Berman
Ladies and Gentlemen:
We have acted as counsel to Rekor Systems, Inc., a Delaware corporation (the “Company”), and are rendering this opinion in connection with the offering by the Company of 10,000,000 shares (the “Firm Shares”) of the Company’s common stock, par value $0.0001 per share (the “Common Stock”) and of up to 1,500,000 shares of Common Stock (the “Option Shares” and together with the Firm Shares, the “Shares”), issuable upon exercise of the underwriters’ option, which Shares are registered under the registration statement on Form S-3 (File No. 333-259447), filed with the Securities and Exchange Commission (the “Commission”) on September 10, 2021, under the Securities Act of 1933, as amended (the “Act”), and declared effective by the SEC on September 23, 2021 (the “Registration Statement”).
The Shares are to be sold by the Company pursuant to an Underwriting Agreement dated February 7, 2024 (the “Underwriting Agreement”) entered into by and among the Company and William Blair & Company, L.L.C., as representatives of the several underwriters named in Schedule I to the Underwriting Agreement (the “Underwriters”), a copy of which has been filed as Exhibit 1.1 to the Company’s Current Report on Form 8-K to which this opinion is attached as Exhibit 5.1.
This opinion is being delivered in accordance with the requirements of Item 601(b)(5) of Regulation S-K under the Securities Act.
As counsel to the Company, in connection with this opinion, we have examined and relied upon the originals, or copies certified to our satisfaction, of such records, documents, certificates, opinions, memoranda and other instruments as in our judgment are necessary or appropriate to enable us to render the opinion expressed below, including (i) the Registration Statement, together with the exhibits thereto and the documents incorporated by reference therein, (ii) the base prospectus, dated September 23, 2021, together with the documents incorporated by reference therein, filed with the Registration Statement (the “Base Prospectus”), and the prospectus supplement, dated February 7, 2024, in the form filed with the Commission pursuant to Rule 424(b) of the Securities Act relating to the offering of the Shares (the “Prospectus Supplement” and, together with the Base Prospectus, the “Prospectus”), (iii) the organizational documents of the Company, including the Company’s Amended and Restated Certificate of Incorporation, as amended and currently in effect, and the Company’s Amended and Restated Bylaws, as currently