AUVI - Applied UV prices Series A Preferred Stock offering

Applied UV (AUVI) has priced its previously announced underwritten public offering of 480,000 shares of 10.5% Series A Cumulative Perpetual Preferred Stock at $25.00/share, with anticipated gross proceeds of $12M.Underwriters will have a 45-day option to buy up to an additional 72,000 shares of Series A Preferred Stock. The shares of the preferred stock are likely to begin trading on Nasdaq on July 20, 2021 under the symbol "AUVIP."Net proceeds will be used to fund a segregated dividend account in an amount equal to the first 12 monthly dividend payments and the remaining for general corporate purposes, including new investments and acquisitions.Dividends on the Series A Preferred Stock will be paid when declared by the firm's Board of Directors at a fixed rate of 10.5% of the $25.00 liquidation preference per year, payable monthly, equivalent to $2.625 per year.AUVI +0.75% premarket

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Applied UV prices Series A Preferred Stock offering