AUVIP - Applied UV Announces Closing of $6.4 Million Upsized Underwritten Public Offering | Benzinga
MOUNT VERNON, NY, Nov. 16, 2023 (GLOBE NEWSWIRE) -- via NewMediaWire - Applied UV, Inc. (NASDAQ:AUVI, AUVIP)) ("Applied UV" or the "Company"), a global leading provider of advanced food security and air and surface disinfection technology, today announced the closing of a underwritten public offering with gross proceeds to the Company of approximately $6.4 million, before deducting underwriting discounts and other estimated expenses payable by the Company. The offering was upsized from $6.0 million. The base offering consisted of 42,666,666 units or pre-funded units (the "Units"), each Unit consisting of one share of common stock ("Common Stock") or one pre-funded warrant ("Pre-Funded Warrant") to purchase one share of Common Stock in lieu thereof, one-tenth (1/10) of a Series A warrant ("Series A Warrant") to purchase one share of Common Stock at an exercise price of $1.50 per share and one-tenth (1/10) of a Series B Warrant to purchase one share of Common Stock at an exercise price of $3.00 per share ("Series B Warrant" and, together with the Series A Warrant, the "Warrants"). The Units were offered at a price of $0.15 per Unit. The purchase price of each Unit including a Pre-Funded Warrant is equal to the price per Unit including one share of Common Stock, minus $0.00001, and the remaining exercise price of each Pre-Funded Warrant is equal to $0.00001 per share. The Pre-Funded Warrants are immediately exercisable and may be exercised at any time until all of the Pre-Funded Warrants are exercised in full. The Company used some of the net proceeds from this offering for repayment of a note, and intends to use the rest of the net ...