Applied UV, Inc. Announces Closing of $2.76 Million Registered Direct and Private Placement
01 Abril 2024 - 12:40PM
InvestorsHub NewsWire
NEW YORK, NY -- April 1, 2024 -- InvestorsHub NewsWire
-- Applied UV, Inc. (NASDAQ: AUVI) (the "Company"), a leader in
smart building technology solutions, today announced the closing of
its previously announced registered direct offering and concurrent
private placement with institutional investors. The Company issued
shares of common stock of the Company ("Common Stock") and
pre-funded warrants ("Pre-Funded Warrants") in a registered direct
offering. In a concurrent private placement, the Company also
issued common warrants ("Common Warrants") to the same investors.
Aggregate gross proceeds to the Company from both transactions were
approximately $2.76 million. The transactions closed on April 1,
2024. The transactions were priced at the market under Nasdaq
rules.
The transactions consisted of (i) the public sale of an
aggregate of 1,726,875 shares of Common Stock (or Pre-Funded
Warrants in lieu thereof) and (ii) the private placement of Common
Warrants to purchase up to 518,065 shares of Common Stock at an
initial exercise price of $16.00 per share. The public offering
price per share of Common Stock is $1.60 (or $1.5999 for each
Pre-Funded Warrant, which is equal to the public offering price per
share of Common Stock to be sold in the offering minus an exercise
price of $0.0001 per Pre-Funded Warrant). The Pre-Funded Warrants
will be immediately exercisable and may be exercised at any time
until exercised in full. The Common Warrants are exercisable
immediately subject to registration and expire 5 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.
Aegis Capital Corp. acted as the exclusive placement
agent for the offerings. Sichenzia Ross Ference Carmel LLP acted as
counsel to the Company for the offerings. Kaufman & Canoles,
P.C. acted as counsel to the Placement Agent for the
offerings.
The registered direct offering was being made pursuant to an
effective shelf registration statement on Form S-3 (No. 333-266015)
previously filed with the U.S. Securities and Exchange Commission
(SEC) and declared effective by the SEC on July 12, 2022. A final
prospectus supplement and accompanying prospectus describing the
terms of the proposed offering has been filed with the SEC and will
be available on the SEC's website located at www.sec.gov.
Electronic copies of the final prospectus supplement and the
accompanying prospectus may be obtained, when available, by
contacting Aegis Capital Corp., Attention: Syndicate Department,
1345 Avenue of the Americas, 27th floor, New York, NY 10105, by
email at syndicate@aegiscap.com, or by telephone at +1 (212)
813-1010.
The offer and sale of the securities in the private placement
were made in a transaction not involving a public offering and have
not been registered under the Securities Act of 1933, as amended
(the "Securities Act"), or applicable state securities laws.
Accordingly, the securities may not be reoffered or resold in the
United States except pursuant to an effective registration
statement or an applicable exemption from the registration
requirements of the Securities Act and such applicable state
securities laws. The securities were offered only to accredited
investors. Pursuant to a registration rights agreement with the
investors, the Company has agreed to file one or more registration
statements with the SEC covering the resale of the Common Stock and
the Shares issuable upon exercise of the pre-funded warrants and
warrants.
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
these securities in any state or jurisdiction in which such offer,
solicitation or sale would be unlawful prior to registration or
qualification under the securities laws of any such state or
jurisdiction.
About Applied UV, Inc.
Applied UV Inc. 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 Inc. is committed to innovation and
excellence in providing solutions for a healthier and smarter
world. More details about Applied UV, Inc., and its subsidiaries
can be found at https://applieduvinc.com
Forward-Looking Statements
The foregoing material may contain "forward-looking statements"
within the meaning of Section 27A of the Securities Act of 1933 and
Section 21E of the Securities Exchange Act of 1934, each as
amended. Forward-looking statements include all statements that do
not relate solely to historical or current facts, including without
limitation statements regarding the Company's product development
and business prospects, and can be identified by the use of words
such as "may," "will," "expect," "project," "estimate,"
"anticipate," "plan," "believe," "potential," "should," "continue"
or the negative versions of those words or other comparable words.
Forward-looking statements are not guarantees of future actions or
performance. These forward-looking statements are based on
information currently available to the Company and its current
plans or expectations and are subject to a number of risks and
uncertainties that could significantly affect current plans. Should
one or more of these risks or uncertainties materialize, or the
underlying assumptions prove incorrect, actual results may differ
significantly from those anticipated, believed, estimated,
expected, intended, or planned. Although the Company believes that
the expectations reflected in the forward-looking statements are
reasonable, the Company cannot guarantee future results,
performance, or achievements. Except as required by applicable law,
including the security 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 Founder, CEO & Director
Max.munn@applieduvinc.com
Investor Relations Contact:
TraDigital IR
Kevin McGrath
+1-646-418-7002
kevin@tradigitalir.com
Applied UV (NASDAQ:AUVI)
Gráfico Histórico do Ativo
De Abr 2024 até Mai 2024
Applied UV (NASDAQ:AUVI)
Gráfico Histórico do Ativo
De Mai 2023 até Mai 2024