Duos Technologies Group Prices $65 Million Offering of 8.67 Million Shares with 30-Day Over-Allotment Option
Duos priced an underwritten offering of 8,666,666 common shares to raise gross proceeds of about $65 million, with underwriters granted a 30-day option to purchase up to an additional 1,299,999 shares. Net proceeds will fund expansion and commercialization of its Edge Data Center business, plus working capital.
1. Offering Size and Pricing
Duos Technologies Group announced an underwritten offering of 8,666,666 common shares to raise approximately $65 million in gross proceeds before underwriting discounts and expenses.
2. Over-Allotment Option
The company granted underwriters a 30-day over-allotment option to purchase up to an additional 1,299,999 shares at the public offering price to cover any over-allotments.
3. Expected Closing Conditions
The offering is expected to close on or about March 2, 2026, subject to customary closing conditions.
4. Use of Proceeds
Net proceeds from the offering will be used to expand and commercialize the Edge Data Center business and for working capital and general corporate purposes.