AERC - AERC STOCK NEWS

AeroClean Technologies has completed its merger with Molekule, leading to the formation of Molekule Group, Inc. (NASDAQ: MKUL). The merger combines AeroClean’s and Molekule’s patented, FDA-cleared air purification technologies, positioning the new entity in the $15 billion air purification market. With combined revenues of approximately $48 million in FY 2022, the company aims to leverage its large installed base and introduce innovative monitoring software to enhance air quality solutions. The company also plans to pursue strategic acquisitions to foster growth and stockholder value.

AeroClean Technologies (Nasdaq: AERC) has received FDA 510k clearance for its Pūrgo™ air purifier, allowing it to eliminate SARS-CoV-2, the virus that causes COVID-19. The FDA's review confirmed the device's effectiveness in removing SARS-CoV-2 from indoor air. AeroClean is further testing Pūrgo™ for its efficacy against influenza and respiratory syncytial virus (RSV), amidst a surge in these illnesses. Pūrgo™, classified as a Class II Medical Device, has proven to eliminate 99.99% of harmful airborne microorganisms, including the Omicron variant, with a significant reduction in viral concentration demonstrated in real-world testing.

AeroClean Technologies (AERC) reported Q3 2022 earnings, with revenues of $58,385, down from $70,918 in Q2 2022. The company announced an all-stock merger with Molekule, emphasizing the expected leadership in the FDA-cleared air purification market, estimated at $15 billion. AeroClean anticipates combined revenues of approximately $45 million for FY 2022. The net income for Q3 2022 was $6,649,493, primarily due to a gain from the revaluation of warrant liabilities. The company has cash reserves of $25.8 million and no debt, positioning itself strongly for future growth.

AeroClean Technologies and Molekule have announced a definitive agreement for an all-stock merger, creating a combined company with a strong base in the $15 billion air purification market. The merger is expected to generate approximately $45 million in revenues for FY 2022, with AeroClean shareholders owning 50.5% and Molekule shareholders 49.5% of the new entity. The merger aims for double-digit organic revenue growth and includes the launch of a SaaS platform for air quality monitoring. The company will be renamed Molekule, Inc. and trade under the symbol MKUL.

AeroClean Technologies (Nasdaq: AERC) reported financial results for Q2 2022, achieving revenues of $70,918, up from $6,733 in Q1 2022. The company received FDA 510(k) clearance for its Pūrgo™ air hygiene technology, effective against the Omicron variant, marking a significant milestone. A $15 million private placement positions the company for strategic growth, including potential acquisitions. Despite a net loss of $5,172,277, cash increased to $29.2 million, indicating strong liquidity for future operations.

Applied UV, Inc. (AUVI) announced a lawsuit against Aeroclean Technologies, Inc. (AERC), seeking $20 million in damages for trademark infringement and unfair competition. The lawsuit, filed by its subsidiary Sterilumen, claims Aeroclean improperly used a trademark associated with Sterilumen's air purification products, causing market confusion. CEO John F. Andrews emphasized the importance of protecting their brand and the investments made in their patented technologies. The case is lodged in the U.S. District Court for the Southern District of New York.

AeroClean Technologies (AERC) announced that independent laboratory testing confirmed its Pūrgo™ air purifier has a 99.998% efficacy rate against the Omicron variant of SARS-CoV-2, the virus responsible for COVID-19. Testing showed a 94.17% reduction in viral concentration within 30 minutes and up to 99.998% after 60 minutes in indoor spaces. CEO Jason DiBona emphasized the importance of these results for enhancing indoor air quality amid ongoing health threats. AeroClean continues to develop solutions targeting various airborne pathogens as part of its commitment to improving indoor air quality.

AeroClean Technologies has been named the official Health & Safety Sponsor of the Florida Chapter of the Club Management Association (FLCMAA), comprising over 700 members from various clubs. The company will deploy its Pūrgo™ air hygiene technology across multiple venues to enhance indoor air quality (IAQ) at in-person events. Recently receiving 510(k) clearance as a Class II medical device, Pūrgo™ eliminates 99.99% of harmful airborne microorganisms. The partnership aims to support health, safety, and business continuity for clubs and their members.

AeroClean Technologies announced the closing of a $15 million private placement with an institutional investor, issuing 1.5 million shares and warrants to purchase additional shares. The shares and warrants were sold at a purchase price of $10.00 each, and the warrants have an exercise price of $11.00. The Company aims to use proceeds for potential acquisitions to boost revenue and expand its product lines, particularly its Pūrgo air hygiene product, which recently gained FDA clearance. The securities were offered under Section 4(a)(2) of the Securities Act.