AUVI - Applied UV rallies as it intends to acquire the Airocide system

Applied UV (AUVI) has signed a non-binding letter of intent to acquire certain key assets of Akida, including Akida's rights to the manufacture and sale of the Airocide System for airborne pathogen reduction.Airocide™ System, patented for up to an estimated $12M of Applied UV stock which will likely include agreements to lock up such stock for a yet to be determined period of time.Akida has agreed to cooperate with Applied UV's due diligence process and not actively pursue parallel alternative sale or financing alternatives until the earlier of the execution of a definitive agreement.AUVI +6.75% PM to $6.41.

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Applied UV rallies as it intends to acquire the Airocide system