AUVI - Applied UV prices $6.4M equity offering poised to acquire Akida's air purification system

Applied UV ([[AUVI]] -17.7%) priced its underwritten public offering of 1.2M shares at $5.25/share, with gross proceeds of $6.4M. The offering is expected to conclude by November 12.Separately, the company has signed a non-binding letter of intent for the acquisition of Akida's Airocide System (air purification technologies), for up to $12M, subject to Akida obtaining significant EBITDA increases over the next two years, along with a clawback and a two year lockup of restricted Applied UV stock.

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Applied UV prices $6.4M equity offering, poised to acquire Akida's air purification system