Rekor Systems (REKR) said Monday it has priced an underwritten offering of about 8.6 million units at $1.75 apiece for gross proceeds of roughly $15 million.

Every unit comprises a common share and a warrant to buy a common share exercisable at $2.40 per share, the company said, adding that the warrants are immediately exercisable and will expire seven years from the issuance date.

Proceeds from the offering, likely to close Tuesday, will be used for working capital, capital spending, and general corporate purposes, Rekor Systems said.