AUVIP - Applied UV Announces Pricing of $6.4 Million Upsized Underwritten Public Offering | Benzinga
MOUNT VERNON, NY, Nov. 14, 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 pricing of a firm commitment underwritten public offering with gross proceeds to the Company expected to be 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 consists 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, one-tenth (1/10) of a Series A warrant ("Series A Warrant") to purchase one a share of Common Stock and one-tenth (1/10) of a Series B Warrant to purchase one a share of Common Stock ("Series B Warrant" and, together with the Series A Warrant, the "Warrants"), at an offering price of $0.15 per Unit. The purchase price of each Unit including a Pre-Funded Warrant will be 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 will equal $0.00001 per share. The Pre-Funded Warrants will be immediately exercisable and may be exercised at any time until all of the Pre-Funded Warrants are exercised in full. The Company intends to use the net proceeds to us from this offering for the repayment of notes, and for general corporate purposes, including working capital.
In addition, the Company has granted Aegis Capital Corp. a 45-day option to purchase additional shares of Common ...