Applied UV Plunges After $5M Equity Offering

Applied UV Inc AUVI has priced its underwritten public offering of 5.0 million shares and pre-funded warrants at a public offering price of $1 per share.

In addition, the company has granted the underwriter a 45-day option to purchase up to an additional 750,000 shares at the public offering price.

Applied UV expects to use the net proceeds of the offering for general corporate purposes, including new investments.

Applied UV provides proprietary surface and air pathogen elimination and disinfection technology focused on Improving indoor air quality, specialty LED lighting and luxury mirrors and commercial furnishings.

Price Action: AUVI shares are trading lower by 41.6% at $1.10 on the last check Friday.