Duos Technologies Group has closed a registered direct offering of 2,000,000 shares of common stock and 3,800,000 pre-funded warrants at a price of $9.50 per share or warrant, generating total gross proceeds of approximately $55 million before deducting underwriting discounts, commissions, and offering expenses. The offering was completed by a single large institutional investor to support the company's continued growth plans. Net proceeds will be used to expand, accelerate, and further commercialize the company's Edge Data Center business and for working capital and general corporate purposes. TD Cowen acted as lead bookrunner on the transaction, with Cantor acting as joint bookrunner.
Duos Technologies Group IncCompany closed a $55M registered direct offering to fund growth, which is a capital event.