Applied UV Secures $5M Credit Facility

by Shivani Kumaresan, Benzinga Staff Writer

December 12, 2022 10:56 AM | 1 min read |

Applied UV Inc AUVI has secured a $5 million revolving credit facility effective December 8, 2022.
The company plans to use borrowings under the revolving credit facility for general corporate purposes and to advance its organic and strategic growth initiatives.
"This facility further bolsters our near-term liquidity position and provides us with additional flexibility to execute our growth strategy including the timely delivery of products from an increasing backlog of orders in our hospitality business,” said president Max Munn.
Applied held $1.1 million in cash and equivalents as of September 30, 2022.
Price Action: AUVI shares are trading higher by 0.32% at $0.92 on the last check Monday.