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Strong Buy (4.00 out of 4)
100th percentile
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Preferred Stock Offerings
By Preferred Stock Channel Staff, updated Tuesday, April 23, 11:10 AM
Slide #62. Applied UV, Inc. — Preferred Stock Offering
Company: |
Applied UV, Inc. (NASDAQ:AUVI) |
Date announced: |
7/13/2021 |
Shares Offered: |
480,000 |
Date of Pricing: |
7/13/2021 |
Price Per Share: |
$25.00 |
Preferred Stock Offering Details: |
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 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 estimated offering expenses. The offering is expected to close on or about July 16, 2021, subject to customary closing conditions. 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 shares of Series A Preferred Stock are expected to be traded on Nasdaq under the symbol "AUVIP" on July 20, 2021. |
Applied UV is a holding company. Through its subsidiaries, SteriLumen, Inc. (SteriLumen) and Munn Works, LLC (MunnWorks), Co. is a sales and marketing company that develops, acquires, markets and sells proprietary surface and air disinfection technology focused on Improving Indoor Air Quality, LED lighting and mirrors and commercial furnishings. SteriLumen owns, brands, and markets a portfolio of products utilizing ultraviolet light Carbon, Broad Spectrum UVC LED's, and Photo-catalytic oxidation pathogen elimination technology. MunnWorks manufactures and sells custom backlit mirrors, conference room and living spaces furnishings. Preferred: AUVIP
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