secwatch.observer — SEC 8-K summary
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Issuer:     DUOS TECHNOLOGIES GROUP, INC. (DUOT)
CIK:        0001396536
Form:       8-K
Filed at:   2024-03-25T23:59:59+00:00
Accession:  0001079973-24-000411
Event type: other_material
Sentiment:  neutral
Materiality: 0.60
Item codes: 1.01, 3.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1396536/000107997324000411/0001079973-24-000411-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1396536/000107997324000411/duot_8k.htm
  HTML page:      https://secwatch.observer/filing/0001079973-24-000411

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer