Applied UV (NASDAQ: AUVI), a leader in smart building technology solutions, has closed on a registered direct offering as well as a concurrent private placement with institutional investors. According to the announcement, Applied UV issued shares of common stock and prefunded warrants in a registered direct offering. In addition, the company also issued common warrants to the same investors in a concurrent private placement. It is estimated that gross proceeds from both transactions, which closed today, will total approximately $2.76 million. The company noted that the transactions consisted of the public sale of 1,726,875 shares of common stock (or prefunded warrants in lieu thereof) as well as the private placement of common warrants to purchase up to 518,065 shares of common stock. “The prefunded warrants will be immediately exercisable and may be exercised at any time until exercised in full,” according to the announcement. “The common warrants are exercisable immediately subject to registration and expire five years after the initial issuance date. The company expects to use the net proceeds from the offering to help fund recent large orders within the Smart Building Technologies division from customers including Siemens, Sherwin Williams and Arco Murray and other general corporate purposes.”
To view the full press release, visit https://ibn.fm/E7eaS
About Applied UV Inc.
Applied UV is dedicated to developing and acquiring smart building technologies for healthcare, hospitality, commercial and municipal markets. With SteriLumen, MunnWorks, LED Supply Co. and PURO, the company has a diverse portfolio that addresses various needs in the market. Applied UV is committed to innovation and excellence in providing solutions for a healthier and smarter world. For more information about Applied UV, please visit www.AppliedUVInc.com.
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