secwatch.observer — SEC 8-K summary
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Issuer:     DUOS TECHNOLOGIES GROUP, INC. (DUOT)
CIK:        0001396536
Form:       8-K
Filed at:   2023-08-03T23:59:59+00:00
Accession:  0001079973-23-001050
Event type: other_material
Sentiment:  neutral
Materiality: 0.70
Item codes: 1.01, 3.02, 3.03, 5.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Duos Tech raises $5M from existing investors via Series F convertible at $6.20/sh conversion
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- Sold 5,000 shares of Series F Convertible Preferred Stock at $1,000 each for aggregate proceeds of $5,000,000 to existing investors.
- Conversion price set at $6.20 per share; each share convertible into common stock subject to 19.99% beneficial ownership limit.
- Series F carries 161 votes per share (adjustable) but capped at beneficial ownership limit; votes together with common on all matters.
- Company must file registration statement for resale of conversion shares within 90 days of closing; registration rights agreement.
- Certificate of Designation filed on July 31, 2023 authorizing Series F; terms include dividend participation, liquidation preference.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1396536/000107997323001050/0001079973-23-001050-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1396536/000107997323001050/duos_8k.htm
  HTML page:      https://secwatch.observer/filing/0001079973-23-001050

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