Applied UV Closes $5.2 Million Underwritten Public Offering of Common Stock
June 21 2023 - 1:23PM
via NewMediaWire – Applied UV, Inc. (Nasdaq: AUVI) (“Applied UV” or
the “Company”), a global leading provider of advanced food
security and air and surface disinfection technology, announced the
closing of its underwritten public offering of 5.0 million shares
of common stock (the “Common Stock”) and pre-funded warrants at a
public offering price of $1.00 per share (less $0.001 in exercise
price per pre-funded warrant). The Company expects to use the net
proceeds of this offering for general corporate purposes, including
new investments.
In addition, the Company granted Aegis Capital Corp., the
underwriter (“Aegis”), a 45-day option to purchase up to an
additional 750,000 shares of Common Stock at the public offering
price per share, less the underwriting discounts and expenses, to
cover over-allotments. On June 21, 2023, Aegis partially exercised
its over-allotment option with respect to 200,000 shares of common
stock.
Gross proceeds for the offering were approximately $5.2 million,
before deducting underwriting discounts and other offering
expenses.
Aegis Capital Corp. acted as the sole book-running manager
for the offering.
The offering was made pursuant to an effective registration
statement on Form S-1 (No. 333-271605) previously filed with the
U.S. Securities and Exchange Commission (the “SEC”) and declared
effective by the SEC on June 15, 2023. A preliminary prospectus
(the “Preliminary Prospectus”) describing the terms of the proposed
offering was filed with the SEC and is available on the SEC’s
website located at http://www.sec.gov. Electronic copies of the
Preliminary Prospectus may be obtained by contacting Aegis Capital
Corp., Attention: Syndicate Department, 1345 Avenue of the
Americas, 27th floor, New York, NY 10105, by email at
syndicate@aegiscap.com, or by telephone at (212) 813-1010.
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy nor shall there be any sale of
these securities in any state or jurisdiction in which such offer,
solicitation or sale would be unlawful prior to registration or
qualification under the securities laws of any such state or
jurisdiction.
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About Applied UV
Applied UV, Inc. provides proprietary surface and air pathogen
elimination and disinfection technology focused on Improving indoor
air quality, specialty LED lighting and luxury mirrors and
commercial furnishings, all of which serve clients globally in both
the commercial and retail segments. For information on Applied UV,
Inc., and its subsidiaries, please visit
https://www.applieduvinc.com.
Forward-Looking Statements
The information contained herein may contain “forward‐looking
statements.” Forward‐looking statements reflect the current view
about future events. When used in this press release, the words
“anticipate,” “believe,” “estimate,” “expect,” “future,” “intend,”
“plan,” or the negative of these terms and similar expressions, as
they relate to us or our management, identify forward‐looking
statements. Such statements include, but are not limited to,
statements contained in this press release relating to the view of
management of Applied UV concerning its business strategy, future
operating results and liquidity and capital resources outlook.
Forward‐looking statements are based on the Company’s current
expectations and assumptions regarding its business, the economy,
and other future conditions. In this news release, such
forward-looking statements include statements regarding the
anticipated use of proceeds from the offering. Because
forward–looking statements relate to the future, they are subject
to inherent uncertainties, risks, and changes in circumstances that
are difficult to predict. The Company’s actual results may differ
materially from those contemplated by the forward‐looking
statements. They are neither statements of historical fact nor
guarantees of assurance of future performance. We caution you
therefore against relying on any of these forward‐looking
statements. Factors or events that could cause the Company’s actual
results to differ may emerge from time to time, and it is not
possible for the Company to predict all of them. The Company cannot
guarantee future results, levels of activity, performance, or
achievements. Except as required by applicable law, including the
securities laws of the United States, the Company does not intend
to update any of the forward‐looking statements. References and
links to websites have been provided as a convenience, and the
information contained on such websites is not incorporated by
reference into this press release.
For additional Company Information:Applied UV,
Inc.Max MunnApplied UV Founder, CEO &
Directormax.munn@applieduvinc.com
Investor Relations ContactTraDigital IRKevin
McGrath+1-646-418-7002kevin@tradigitalir.com
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