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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
——————
FORM 8-K
——————
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities
Exchange Act of 1934
Date of Report (Date of earliest event reported):
July 30, 2025
——————
Duos Technologies Group, Inc.
(Exact name of registrant as specified in its
charter)
——————
| Florida |
001-39227 |
65-0493217 |
| (State or Other Jurisdiction |
(Commission |
(I.R.S. Employer |
| of Incorporation) |
File Number) |
Identification No.) |
7660 Centurion Parkway, Suite 100, Jacksonville,
Florida 32256
(Address of Principal Executive Offices) (Zip
Code)
(904) 296-2807
(Registrant’s telephone number, including
area code)
Check the appropriate box below
if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
☐
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Securities registered pursuant to Section 12(b) of the Act:
| Title of each class |
|
Trading Symbol(s) |
|
Name of each exchange on which registered |
| Common Stock (par value $0.001 per share) |
|
DUOT |
|
The Nasdaq Stock Market LLC |
Indicate by check mark whether the registrant
is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the
Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company ☐
If an emerging growth company, indicate by check
mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting
standards provided pursuant to Section 13(a) of the Exchange Act. ☐
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 |
|
Underwriting Agreement, dated July 30, 2025, between Duos Technologies Group, Inc. and Titan Partners Group LLC, a division of American Capital Partners, LLC. |
| 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 |
| |
|
Adrian G. Goldfarb
Chief Financial Officer |
| |
|
