AUVI - Applied UV announces $5M secured revolving credit facility
- Applied UV( NASDAQ: AUVI ) announces a $5M secured revolving credit facility effective December 8, 2022.
- The 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.
- “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,” said Max Munn, Applied UV, Inc.’s President and Founder
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Applied UV announces $5M secured revolving credit facility