AUVI - Applied UV shares soar on Akida deal close

Applied UV (AUVI) shares up nearly 65% premarket after announcing that its wholly-owned subsidiary, SteriLumen, had closed the acquisition of substantially all of the assets of Akida Holdings, including rights to manufacture and sell the Airocide System.The deal for 1.375M shares of Applied UV stock and $901K in cash, will not result in SteriLumen or Applied UV assuming any long-term debt or non-operating liabilities of Akida.Akida's revenue for the FY 2020 is estimated to be $4.7M with EBITDA of about $921K.The Airocide system, originally developed for NASA by the University of Wisconsin, is a medical-grade, airborne pathogen killing technology that uses a patented combination of UVC and a proprietary titanium dioxide based photocatalyst.Airocide products have seen broad adoption across all major markets including resorts and hotels, hospitals and nursing homes, food distribution and wine making commercial buildings, and retail sectors.

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Applied UV shares soar on Akida deal close