Duos Technologies raises $4M via Series E Convertible Preferred Stock at $1,000/share, conversion price $3.00

DUOS TECHNOLOGIES GROUP, INC.

Issued 4,000 shares of Series E Convertible Preferred Stock to existing investors for $4M aggregate proceeds.
Each share has stated value $1,000, convertible into common stock at $3.00 per share, subject to adjustment.
Conversion limited to 19.99% beneficial ownership; purchasers elected 19.99% limitation.
Company must hold shareholder meeting within 120 days to approve issuance of shares exceeding 19.99% of outstanding.
Series E Preferred Stock carries 333 votes per share, no separate dividend, participates in common dividends on as-converted basis.

item 1.01 item 3.02 item 3.03 item 5.03 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.98

DUOS TECHNOLOGIES GROUP, INC. entered into Registration Rights Agreement with the Purchasers valued at Company shall file with SEC a registration statement covering resale of common stock issuable upon c (effective 2023-03-27).

Action: entry
Counterparty: the Purchasers
Value: Company shall file with SEC a registration statement covering resale of common stock issuable upon c
Effective: 2023-03-27

Exact text from the filing

In connection with the Purchase Agreement, the Company also entered into a Registration Rights Agreement with the Purchasers.

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

DUOS TECHNOLOGIES GROUP, INC. filing history →

Source: SEC EDGAR

accession 0001553350-23-000210

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