Applied UV Announces Annual Shareholder Meeting Date

Rhea-AI Summary

Applied UV (NASDAQ: AUVI) announced its Annual Stockholders Meeting will occur virtually at 1 PM EDT on May 17, 2022. This meeting is crucial as the company failed to hold an annual meeting in 2021, which put it out of compliance with Nasdaq Rule 5620(a). Nasdaq has granted an extension, allowing the company to regain compliance post-meeting. Applied UV focuses on pathogen elimination through its subsidiaries, SteriLumen and Munn Works, and uses UVC technology for surface and air purification.

Positive

• The company will regain compliance with Nasdaq Rule 5620(a) after holding the Annual Stockholders Meeting.
• Applied UV focuses on pathogen elimination technology, presenting potential growth in healthcare and commercial sectors.

Negative

• Failure to hold the annual stockholder meeting in 2021 raised compliance issues with Nasdaq.

MOUNT VERNON, NY / ACCESSWIRE / February 24, 2022 / Applied UV, Inc.(NASDAQCM:AUVI) ("Applied UV" or the "Company"), a pathogen elimination technology company that applies the power of narrow-range ultraviolet light ("UVC") for surface areas and catalytic bioconversion technology for air purification to destroy pathogens safely, thoroughly, and automatically, announces that it will hold its Annual Stockholders Meeting at 100pm EDT on May 17^th, 2022. The Annual Stockholders meeting will be a virtual meeting. All stockholders who wish to attend may do so by following the instructions that will be included in the Annual Meeting Proxy Statement Notice which will be mailed to stockholders and filed with the Securities and Exchange Commission.

Because the Company did not hold an annual stockholder meeting in fiscal year 2021, it was not in compliance with Nasdaq Rule 5620(a) (Nasdaq's rule that states when the Company is required to hold an annual meeting of stockholders). However, the Company has been granted an extension by Nasdaq to regain compliance with Rule 5620(a), and after its 2022 Annual Stockholders Meeting has been held, the Company will be in full compliance with such rule.

About Applied UV

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. SteriLumen's Airocide® air purification devices are research backed, clinically proven, and developed for NASA with assistance from the University of Wisconsin. Airocide® is listed as an FDA Class II Medical device, utilizes a proprietary photocatalytic (PCO) bioconversion technology that draws air into a reaction chamber that converts damaging molds, microorganisms, dangerous airborne pathogens, destructive VOCs, allergens, odors and biological gasses into harmless water vapor and green carbon dioxide without producing ozone or other harmful byproducts. Airocide® applications include healthcare, hospitality, grocery chains, wine making facilities, commercial real estate, schools, dental offices, post-harvest, grocery, cannabis facilities and homes. For more information about Applied UV, Inc., and its subsidiaries, please visit the following websites: https://www.applieduvinc.com/; https://sterilumen.com/; https://www.airocide.com https://kesscience.com; https://scientificairmanagement.com and, https://munnworks.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. 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 to conform these statements to actual results.

For additional Company Information:

Applied UV Inc.
Max Munn
Applied UV Interim CEO
max.munn@sterilumen.com

Contact:
Brett Maas, Managing Principal
Hayden IR
brett@haydenir.com
(646) 536-7331

SOURCE: Applied UV, Inc.

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FAQ

When is Applied UV's Annual Stockholders Meeting?

Applied UV's Annual Stockholders Meeting will be held virtually at 1 PM EDT on May 17, 2022.

What is the significance of the Annual Stockholders Meeting for Applied UV?

The Annual Stockholders Meeting is significant as it allows Applied UV to regain compliance with Nasdaq's Rule 5620(a) after failing to hold a meeting in 2021.

What does Applied UV focus on?

Applied UV focuses on pathogen elimination technology for various markets, including healthcare and commercial sectors.

What compliance issue did Applied UV face?

Applied UV faced a compliance issue for not holding an annual stockholder meeting in 2021, which is required by Nasdaq Rule 5620(a).