Transaction Information
Applied UV, Inc. (NASDAQ: AUVI) announced the closing of its underwritten registered public offering of 480,000 shares of 10.5% Series A Cumulative Perpetual Preferred Stock, with liquidation preference of $25.00 per share (the "Series A Preferred Stock"), at an initial public offering price of $25.00 per share, raising gross proceeds of $12.0 million before deducting underwriting discounts and other offering expenses. In connection with the offering, the Company has granted the underwriters a 45-day option to purchase up to an additional 72,000 shares of Series A Preferred Stock.
Dividends on the Series A Preferred Stock will be paid when declared by the Company's Board of Directors at a fixed rate of 10.5% of the $25.00 liquidation preference per year, payable monthly, equivalent to $2.625 per year.
The offering is being conducted pursuant to the Company's registration statement on Form S-1 (File No. 333-257197) previously filed with and subsequently declared effective by the Securities and Exchange Commission ("SEC") and an additional registration statement filed pursuant to Rule 462(b) which became effective upon filing.
Ladenburg Thalmann & Co. Inc. acted as lead book-running manager for this offering.
About Applied UV, Inc.
Applied UV is focused on the development and acquisition of technology that address infection control in the healthcare, hospitality, commercial and municipal markets. The Company has two wholly owned subsidiaries - SteriLumen, Inc. ("SteriLumen") and Munn Works, LLC ("Munn Works"). SteriLumen's connected platform for Data Driven Disinfection™ applies the power of ultraviolet light (UVC) to destroy pathogens safely, thoroughly, and automatically, addressing the challenge of healthcare-acquired infections ("HAIs"). Targeted for use in facilities that have high customer turnover such as hospitals, hotels, commercial facilities, and other public spaces, the Company's Lumicide™ platform uses UVC LEDs in several patented designs for infection control in and around high-traffic areas, including sinks and restrooms, killing bacteria, viruses, and other pathogens residing on hard surfaces within devices' proximity. The Company's patented in-drain disinfection device, Lumicide Drain, is the only product on the market that addresses this critical pathogen intensive location.
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The information and material presented is provided for informational purposes only and are not to be used or considered as an offer or the solicitation of an offer to sell or buy any securities mentioned herein.