Duos Technologies Group Inc. filed SEC Form 8-K: Entry into a Material Definitive Agreement, Other Events, Financial Statements and Exhibits
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SECURITIES AND EXCHANGE COMMISSION
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Item 1.01 Entry Into a Material Definitive Agreement
On July 30, 2025, Duos Technologies Group, Inc. (the “Company”) priced its recently announced public offering (the “Offering”) of common stock, par value $0.001 per share (the “Common Stock”), for gross proceeds of approximately $36.9 million. The securities in the Offering were offered and sold by the Company pursuant to an effective shelf registration statement on Form S-3, which was initially filed with the Securities and Exchange Commission on June 12, 2023 and, as amended, was declared effective on June 21, 2023 (File No. 333-272603), and the Registration Statement on Form S-3MEF, filed on July 30. 2025 (File No. 333-289106), and the base prospectus dated June 21, 2023, as supplemented by the preliminary prospectus supplement filed on July 30, 2025 and a final prospectus supplement filed on August 1, 2025 (the “Prospectus Supplement”) pursuant to Rule 424(b) under the Securities Act of 1933, as amended (the “Securities Act”). The Offering closed on August 1, 2025.
The Offering was conducted pursuant to an underwriting agreement (the “Agreement”) between the Company and Titan Partners Group LLC, a division of American Capital Partners, LLC, as the sole bookrunner (the “Underwriter”), that was entered into on July 30, 2025. Pursuant to the Agreement, we sold 6,666,667 shares of Common Stock in the Offering at a public offering price of $6.00 per share, less underwriting discounts and commissions. We also granted the Underwriter a 30-day option to purchase up to an additional 838,851 shares of Common Stock from the Company at the public offering price, less underwriting discounts and commissions. We also agreed to issue to the Underwriter a warrant to purchase 333,334 shares of Common Stock. The underwriter’s warrant is exercisable immediately and for a period of five years from the date of the Agreement, at an exercise price of $7.20 per share. The material terms of the Offering are described in the Registration Statement and the Prospectus Supplement. The Agreement contains customary representations, warranties and agreements of us. We also agreed in the Agreement to indemnify the Underwriter against certain liabilities.
The foregoing descriptions of the Agreement and underwriter warrant are not complete and are qualified in their entirely by reference to the full text of the Agreement and a form of underwriter warrant, copies of which are filed as Exhibits 1.1 and 4.1, respectively, to this Current Report on Form 8-K and are incorporated herein by reference.
The legal opinion and consent of Shutts & Bowen LLP relating to the securities is filed as Exhibit 5.1 to this Current Report on Form 8-K and is incorporated herein by reference.
Item 8.01 Other Events.
On July 30, 2025, the Company issued two press releases, the first announcing that it had commenced the Offering and the second announcing the pricing of the Offering. Copies of these press releases are filed as Exhibits 99.1 and 99.2, respectively, to this Current Report on Form 8-K and are incorporated herein by reference.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits.
| Exhibit No. | Description of Exhibit | |
| 1.1 | ||
| 4.1 | Form of Underwriter Warrant | |
| 5.1 | Opinion of Shutts & Bowen LLP | |
| 23.1 | Consent of Shutts & Bowen LLP (included in Exhibit 5.1) | |
| 99.1 | Press Release, dated July 30, 2025, regarding commencement of the Offering. | |
| 99.2 | Press Release, dated July 30, 2025, regarding pricing of the Offering. | |
| 104 | Cover Page Interactive Data File (formatted as Inline XBRL and contained in Exhibit 101) |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned, hereunto duly authorized.
| DUOS TECHNOLOGIES GROUP, INC. | ||
| Dated: August 1, 2025 | By: | /s/ Adrian G. Goldfarb |
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Adrian G. Goldfarb
Chief Financial Officer | ||