Applied UV Acquires Scientific Air To Strengthen Infection Prevention Product Portfolio

Applied UV Inc's AUVI wholly-owned subsidiary, SteriLumen Inc, has acquired substantially all the assets of privately-held Scientific Air Management of Pompano Beach, Florida.
The deal value includes $9.5 million in cash, 200,000 common shares of Applied UV stock, and an additional 200,000 common shares on achieving specific financial performance metrics.
Applied UV will acquire all rights to Scientific Air's patented air disinfection and purification technologies. The product portfolio includes patented 24/7 large air volume, whole room UV-C pathogen killing technology.
Applied UV noted that the acquisition substantially deepens its infection prevention product portfolio with the mobile application and expands the platform for growth.
Applied UV expects Scientific Air to be immediately accretive to its EPS and positively impact growth by adding $5~7 million in sales to current annual revenue.
Applied UV currently expects to be EBITDA positive during Q1, 2022.
The company held $7 million in cash and equivalents as of June 30, 2021.
Price Action: AUVI shares traded higher by 4.13% at $5.8 in premarket on the last check Thursday.