Duos Technologies raises $55M in registered direct offering

Duos Technologies Group, Inc. (Nasdaq: DUOT) closed a registered direct offering of 2,000,000 shares of common stock and 3,800,000 pre-funded warrants, priced at $9.50 per share or warrant, generating approximately $55 million in gross proceeds before underwriting discounts, commissions, and offering expenses.

The offering was completed with a single large institutional investor, according to a press release from the Jacksonville, Florida-based company. Net proceeds are intended to expand and commercialize the company's Edge Data Center business, as well as for working capital and general corporate purposes.

TD Cowen served as lead bookrunner on the transaction, with Cantor acting as joint bookrunner.

The offering was made pursuant to a shelf registration statement on Form S-3 filed with the Securities and Exchange Commission on February 11, 2026, and declared effective on February 12, 2026.

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