Duos Technologies Group Inc (NASDAQ:DUOT) announced the pricing of an $8 million public offering the same day its shares began trading on the Nasdaq.
The intelligent analytical technology provider is offering 1.3 million shares at a price of $6 per share. It plans to use the proceeds for research and development activities, sales and marketing, and for general working capital purposes.
Duos has granted the underwriters the option to purchase an additional 200,000 shares. The offering is expected to close on February 18.
The company began trading on the Nasdaq on Thursday under the ticker symbol DUOT.
Duos, based in Jacksonville, specializes in automated systems with a focus on the protection of critical infrastructure and the automation of complex mechanical inspections of rail assets.
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