Applied UV (AUVI) , an infection prevention technology company that applies the power of narrow-range ultra violet light (“UVC”) to destroy pathogens safely, thoroughly, and automatically, today announced the pricing of its initial public offering of 1,000,000 shares of its common stock at a price of $5.00 per share. The Company’s common stock has been approved for listing on the Nasdaq Capital Market under the symbol “AUVI” and is expected to begin trading on August 31, 2020. The Company expects to receive gross proceeds of approximately $5 million, before deducting underwriting discounts and commissions and other estimated offering expenses.
The offering is expected to close on September 2, 2020, subject to customary closing conditions.
Network 1 Financial Securities, Inc. is acting as the managing underwriter for the offering and Dawson James Securities, Inc. is acting as co-underwriter.
Applied UV has granted the underwriters a 45-day option to purchase up to an additional 150,000 shares of Common Stock to cover over-allotments, if any.
The offering is being conducted pursuant to the Company’s registration statement on Form S-1 (File No. 333-239892) previously filed with and subsequently declared effective by the Securities and Exchange Commission (“SEC”).
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