Duos Technologies raises $2.625M via Series D and Series E convertible preferred stock

DUOS TECHNOLOGIES GROUP, INC.

Issued 500 shares of Series D Convertible Preferred Stock for $500,000 proceeds.
Issued 2,125 shares of Series E Convertible Preferred Stock for $2,125,002 proceeds.
Both series sold at $1,000 per share to accredited investors under Rule 506(b).
Registration rights agreements require filing resale registration statement within 90 days.
Series E terms restrict issuance of common stock at less than conversion price until Dec 31, 2024 without 66.6% holder consent.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

DUOS TECHNOLOGIES GROUP, INC. entered into Series D Purchase Agreement with certain accredited investors valued at proceeds of $500,000 (effective 2024-03-22).

Action: entry
Agreement: equity purchase
Counterparty: certain accredited investors
Value: proceeds of $500,000
Effective: 2024-03-22

Exact text from the filing

Pursuant to one agreement (the “Series D Purchase Agreement”), the Company issued an aggregate of 500 shares of Series D Convertible Preferred Stock (the “Series D Preferred Stock”) and the Company received proceeds of $500,000.

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Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

DUOS TECHNOLOGIES GROUP, INC. entered into Series E Purchase Agreement with certain accredited investors valued at proceeds of $2,125,002 (effective 2024-03-22).

Action: entry
Agreement: equity purchase
Counterparty: certain accredited investors
Value: proceeds of $2,125,002
Effective: 2024-03-22

Exact text from the filing

Pursuant to the other agreement (the "Series E Purchase Agreement" and, collectively with the Series D Purchase Agreement, the “Purchase Agreements”), the Company issued an aggregate of 2,125 shares of Series E Convertible Preferred Stock (the “Series E Preferred Stock”) and the Company received proceeds of $2,125,002.

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545 material agreements filed in the last 30 days. Browse all material agreements →

DUOS TECHNOLOGIES GROUP, INC. filing history →

Source: SEC EDGAR

accession 0001079973-24-000411

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