Applied UV Announces Pricing of $5,000,000 Underwritten Public Offering

MOUNT VERNON, NY, June 16, 2023 (GLOBE NEWSWIRE) — via NewMediaWire — Applied UV, Inc. (Nasdaq: AUVI) (“Applied UV” or the “Company”), a global leading provider of advanced food security and air and surface disinfection technology, announced the pricing of its underwritten public offering of 5.0 million shares of common stock (the “Common Stock”) and pre-funded warrants at a public offering price of $1.00 per share (less $0.001 in exercise price per pre-funded warrant), for aggregate gross proceeds of approximately $5.0 million, prior to deducting underwriting discounts and other offering expenses.

In addition, the Company has granted the underwriter a 45-day option to purchase up to an additional 750,000 shares of Common Stock at the public offering price per share, less the underwriting discounts and expenses, to cover over-allotments, if any. The Company expects to use the net proceeds of this offering for general corporate purposes, including new investments.

Aegis Capital Corp. is acting as the sole book-running manager for the Offering.

The Offering was made pursuant to an effective registration statement on Form S-1 (No. 333-271605) previously filed with the U.S. Securities and Exchange Commission (the “SEC”) and declared effective by the SEC on June 15, 2023. A preliminary prospectus (the “Preliminary Prospectus”) describing the terms of the proposed offering was filed with the SEC and is available on the SEC’s website located at http://www.sec.gov. Electronic copies of the Preliminary Prospectus may be obtained by contacting Aegis Capital Corp., Attention: Syndicate Department, 1345 Avenue of the Americas, 27th floor, New York, NY 10105, by email at syndicate@aegiscap.com, or by telephone at (212) 813-1010. Before investing in this offering, interested parties should read in their entirety the registration statement and the Preliminary Prospectus and the other documents that the Company has filed with the SEC that are incorporated by reference in such registration statement and the Preliminary Prospectus, which provide more information about the Company and the offering.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

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About Applied UV

Applied UV, Inc. (“AUVI”) provides proprietary surface and air pathogen elimination and disinfection technology focused on Improving indoor air quality, specialty LED lighting and luxury mirrors and commercial furnishings, all of which serve clients globally in both the commercial and retail segments. For information on Applied UV, Inc., and its subsidiaries, please visit https://www.applieduvinc.com.

Forward-Looking Statements

The information contained herein may contain “forward‐looking statements.” Forward‐looking statements reflect the current view about future events. When used in this press release, the words “anticipate,” “believe,” “estimate,” “expect,” “future,” “intend,” “plan,” or the negative of these terms and similar expressions, as they relate to us or our management, identify forward‐looking statements. Such statements include, but are not limited to, statements contained in this press release relating to the view of management of Applied UV concerning its business strategy, future operating results and liquidity and capital resources outlook. Forward‐looking statements are based on the Company’s current expectations and assumptions regarding its business, the economy and other future conditions. In this news release, such forward-looking statements include statements regarding the anticipated use of proceeds from the offering. Because forward–looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict. The Company’s actual results may differ materially from those contemplated by the forward‐looking statements. They are neither statements of historical fact nor guarantees of assurance of future performance. We caution you therefore against relying on any of these forward‐looking statements. Factors or events that could cause the Company’s actual results to differ may emerge from time to time, and it is not possible for the Company to predict all of them. The Company cannot guarantee future results, levels of activity, performance, or achievements. Except as required by applicable law, including the securities laws of the United States, the Company does not intend to update any of the forward‐looking statements. References and links to websites have been provided as a convenience, and the information contained on such websites is not incorporated by reference into this press release.

For additional Company Information:

Applied UV Inc.
Max Munn
Applied UV Founder, CEO & Director
Max.munn@applieduvinc.com

Investor Relations Contact:

TraDigital IR
Kevin McGrath
+1-646-418-7002
kevin@tradigitalir.com