STOCKS TELEGRAPH

Tag: AUVI

  • Applied UV (AUVI) Stock: What’s Driving Its Upswing?

    Applied UV (AUVI) Stock: What’s Driving Its Upswing?

    Applied UV, Inc. (NASDAQ: AUVI) is currently exhibiting a positive trajectory on the US financial charts. As of the last check during the current session, the value of Applied UV stock has surged by 20.77%, reaching $2.21. The upswing in AUVI can be ascribed to a triumphant integration initiative recently reported by the company.

    This week, Applied UV (AUVI) announced the successful amalgamation of its PURO and Airocide entities into its Sterilumen subsidiary, a strategic move aimed at optimizing its portfolio, curtailing expenditures, achieving margin expansion, and fostering sustainable value for shareholders. The company anticipates that the integration of PURO and Airocide, coupled with other previously executed cost-saving endeavors, will yield an annual reduction of approximately $1 million in ongoing operating expenses, commencing in fiscal 2024.

    The resultant product platform, marked by its superior quality and diversified solutions, positions SteriLumen as a truly global player across North America, Europe, Asia, and the Middle East. Furthermore, the synergies harnessed from this integration have empowered Applied UV to leverage its combined product offerings for enhanced revenue growth, technical support, customer retention, and overall customer life cycle management.

    The strategic acquisition of PURO has proven to be a judicious decision for AUVI, evidenced by the perpetual demand from global customers for solution providers capable of delivering products worldwide and offering integrated solutions to meet evolving needs. The recent completion of its transformation plan signifies a clear trajectory toward establishing a more profitable and focused Applied UV.

    This integration not only positions Applied UV for sales growth but also anticipates substantial ongoing cost reductions. A pivotal move in this direction involves consolidating warehouse and manufacturing operations at AUVI’s Airocide facility in Kennesaw, GA. This strategic shift is poised to optimize Applied UV’s production capabilities, enhance supply chain efficiency, and, consequently, enable the company to better and faster serve its clientele.

  • $8M Public Offering: Applied UV, Inc. (AUVI) stock Plummets Further Premarket

    $8M Public Offering: Applied UV, Inc. (AUVI) stock Plummets Further Premarket

    Applied UV, Inc. (AUVI) stock plunged further deep in the premarket session after the announcement of an $8 million public offering. At the time of writing, AUVI stock was down by 17.04% at $2.97 in the premarket on December 29.

    In the previous session, the stock had subtracted 12.90% at the closing price of $3.58 with 676.3K shares exchanging.

    Founded in 2019, Applied UV, Inc. develops and acquires technology that addresses infection prevention. Currently, the company’s 10.11 million outstanding shares trade at a market capitalization of $41.88 million. Furthermore, AUVI has subtracted 23.01% in the past five days and 22.00% year to date.

    AUVI’s Public Offering

    On December 28, the company announced the pricing of an underwritten public offering. At a price of $3.00 per share, 2,666.667 shares of AUVI’s common stock are offered. Moreover, the offering will result in gross proceeds of $8.0 million approximately, less discounts and commissions, etc.

    Furthermore, the underwriters are also granted a 45-day option for buying 400,000 additional shares of the common stock. The per-share price of the additional shares will be the same as the original offering. Moreover, the expected closing of the offering is on or about December 31, 2021.

    In addition, the acting sole book-running manager of the offering is EF Hutton, a division of Benchmark Investments, LLC.  Further, the net proceeds from the offering are intended to be used for general corporate purposes by AUVI.

    Monthly Dividend

    On December 23, AUVI announced monthly cash dividends to holders of its 10.5% Series A Cumulative Perpetual Preferred Stock. The company’s board of directors declared a monthly dividend of $0.21875 per share for the mentioned shareholders. Moreover, the record date for the preferred dividend is January 4, 2022. The preferred dividend would be paid on or about January 17, 2022.

    AUVI’s Financial Highlights

    On November 16, the company declared its financial results for the third quarter of 2021.

    As per the results, AUVI had net sales of $3,551,564 in the third quarter of 2021. This shows an increase of 127.6% from $1,560,633 in the third quarter of 2020.

    Moreover, the company incurred a net loss of $1,080.805 in the third quarter of 2021. Comparatively, net loss in the third quarter of 2020, was $890,559. While the net loss did decrease year over year, it improved over 49% against the previous quarter.

    At the end of the quarter, AUVI had cash of $11.7 million on its consolidated balance sheet.