DivestmentMay 28, 2026, 04:09 PM
Duos Technologies Receives $50.4M from Asset Sale
AI Summary
Duos Technologies Group, Inc. announced it received approximately $50.4 million in net proceeds from the sale of substantially all assets of New APR Energy, LLC. The company held a 5% non-voting ownership interest in New APR's ultimate parent company. An additional $9.9 million was placed in escrow to cover potential indemnity obligations, with any remaining funds to be distributed after 12 months.
Key Highlights
- Duos Technologies received approximately $50.4 million in net proceeds.
- Proceeds resulted from the sale of substantially all assets of New APR Energy, LLC.
- Duos Technologies held a 5% non-voting ownership interest in New APR's parent company.
- An additional $9.9 million was retained in escrow for potential indemnity obligations.
- Any remaining escrow funds will be distributed to the Company after 12 months.
Price Impact
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