debt
confidence high
sentiment neutral
materiality 0.60
Duos Technologies subsidiary raises $2.2M in secured notes; issues 300,000 warrants at $3.00
DUOS TECHNOLOGIES GROUP, INC.
- Edge AI subsidiary issued $2.2M secured notes to two institutional investors; 10% interest, maturity Dec 31, 2025.
- Proceeds used solely to complete installation of previously-announced edge data centers.
- Warrants to purchase 300,000 shares of Duos common stock at $3.00 per share, 5-year term.
- Security includes first priority lien on edge data center equipment and revenues; also pledge of ATM offering proceeds.
- If notes not paid at maturity, interest rate rises to 18% and additional warrants of 75,000 per 30 days.