Applied UV Announces $5 Million Secured Revolving Credit Facility

Applied UV, Inc. AUVI, a pathogen elimination technology company, announced a $5 million secured revolving credit facility effective December 8, 2022. 

Borrowings under the revolving credit facility will be used for general corporate purposes and to advance Applied UV’s organic and strategic growth initiatives. The facility currently has no outstanding balance.

Max Munn, Applied UV, Inc.’s President and Founder, said: "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. Over the past few weeks, we have increased capital availability by $7.5 million with the closing of this new revolver and $2.5 million in an unsecured loan earlier this month. We are taking the steps necessary to ensure we have access to capital to support an acceleration in sales and deliver positive cash flow."

Additional details regarding the credit facility are available in a Current Report on the Form 8-K filed with the Securities and Exchange Commission.

About Applied UV

Applied UV, Inc. ("AUVI") develops and acquires proprietary infection prevention and control technology in the healthcare, commercial & public venue, food processing/storage, cannabis, and education, vertical markets. 

The company has two wholly owned subsidiaries - SteriLumen, Inc. and Munn Works, LLC. Sterilumen owns and markets a portfolio of products with advanced pathogen elimination technology, branded Airocide® by Sterilumen, Scientific Air™ by Sterilumen, Airoclean™ 420 by Sterilumen, and Lumicide™ by Sterilumen.

Leading organizations globally rely on AUVI’s air purification systems to completely eliminate airborne and surface infections, mold, bacteria, allergens and other contaminants. Their customers include Kaiser Permanente, NY Health+Hospitals, Baptist Health South Florida, Boston Red Sox’s Fenway Park, JetBlue Park, France’s Palace of Versailles, Invited Clubs, Whole Foods, Del Monte Foods, U.S. Department of Veterans Affairs and more.

NASA used Airocide’s and Airoclean™ 420’s Photocatalytic Oxidation technology to sanitize its International Space Station.

Scientifically proven to reduce Healthcare Acquired Infections (HAI), Scientific Air™ offers a proprietary 3-stage technology integrating HEPA filters, ultraviolet germicidal light chamber and active carbon substrate.

For information on Applied UV, Inc., and its subsidiaries, please visit the following websites: https://applieduvinc.com/, https://sterilumen.com/ and https://airoclean420.com/. 

Featured Photo by Rich Smith on Unsplash

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