Applied UV Announces Pricing of $5 Million Initial Public Offering
Applied UV, Inc. (NASDAQ:AUVI) has priced its initial public offering (IPO) at $5.00 per share, offering 1,000,000 shares and aiming for gross proceeds of approximately $5 million. The IPO is set to close on September 2, 2020, pending customary conditions. Network 1 Financial Securities, Inc. leads the underwriting team and has an option for an additional 150,000 shares for over-allotments. The company focuses on infection prevention utilizing UVC technology to combat pathogens, with promising testing results against the coronavirus.
- Gross proceeds of approximately $5 million expected from the IPO.
- UVC technology shows effectiveness against pathogens, including coronavirus strains.
- Potential dilution for existing shareholders from additional share offering.
- Market uncertainty surrounding IPO success and initial trading performance.
MOUNT VERNON, NY / ACCESSWIRE / August 31, 2020 / Applied UV, Inc. (NASDAQ:AUVI) ("Applied UV" or the "Company"), an infection prevention technology company that applies the power of narrow-range ultra violet light ("UVC") to destroy pathogens safely, thoroughly, and automatically, today announced the pricing of its initial public offering of 1,000,000 shares of its common stock at a price of
The offering is expected to close on September 2, 2020, subject to customary closing conditions.
Network 1 Financial Securities, Inc. is acting as the managing underwriter for the offering and Dawson James Securities, Inc. is acting as co-underwriter.
Applied UV has granted the underwriters a 45-day option to purchase up to an additional 150,000 shares of Common Stock to cover over-allotments, if any.
The offering is being conducted pursuant to the Company's registration statement on Form S-1 (File No. 333-239892) previously filed with and subsequently declared effective by the Securities and Exchange Commission ("SEC"). A prospectus relating to the offering will be filed with the SEC and will be available on the SEC's website at http://www.sec.gov. Electronic copies of the prospectus relating to this offering, when available, may be obtained from Network 1 Financial Securities, Inc. 2 Bridge Avenue, Suite 241, Redbank, NJ 07701, or by e-mail at ktestaverde@netw1.com, or by telephone at 1-(800) 886-7007.
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, any security in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or other jurisdiction.
About Applied UV
Applied UV is focused on the development and acquisition of technology that addresses infection prevention in the healthcare, hospitality, commercial and residential markets. Our products utilize disinfection technology that applies the power of UVC to destroy pathogens safely, thoroughly, and automatically. The Company's SteriLumen technology was tested at an independent laboratory that found the SteriLumen mirror and drain to be greater than
For more information about Applied UV, Inc., and its subsidiaries, please visit the following websites: https://www.applieduvinc.com/; https://sterilumen.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.
CONTACT:
Applied UV Investor Relations
TraDigital IR
Kevin McGrath
+1-646-418-7002
kevin@tradigitalir.com
MJ Clyburn
+1-917-327-684
clyburn@tradigitalir.com
SOURCE: Applied UV, Inc.
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FAQ
What are the details of Applied UV's IPO on August 31, 2020?
When will Applied UV's shares begin trading on the Nasdaq?
What technology does Applied UV utilize for infection prevention?
Is there an option for additional shares in Applied UV's IPO?
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