Applied UV, Inc. (NasdaqCM: AUVI) (âApplied UVâ or the âCompanyâ), a pathogen elimination technology company that applies the power of narrow-range ultraviolet light (âUVCâ) for surface areas and catalytic bioconversion technology for air purification to destroy pathogens safely, thoroughly, and automatically, announces that its Board of Directors (the âBoardâ) has authorized a common share repurchase program to repurchase up to one million shares (13.5% of the Companyâs public float) of the Companyâs outstanding common stock. The share repurchase authorization is effective immediately and the Companyâs management team may make open market repurchases of the Companyâs common stock as authorized until September 30, 2022.
Max Munn, Applied UVâs interim CEO stated, âThe Boardâs decision to authorize this share repurchase program reflects the Companyâs commitment to creating shareholder value, our strong balance sheet and the expectations we have for 2022.â
Mr. Munn further stated, âThe Company will continue its ongoing efforts to create shareholder value by prioritizing capital allocations that support its business plan and growth strategy.â
About Applied UV
Applied UV is focused on the development and acquisition of technology that address infection control in the healthcare, hospitality, commercial and municipal markets. The Company has two wholly owned subsidiaries - SteriLumen, Inc. (âSteriLumenâ) and Munn Works, LLC (âMunn Worksâ). SteriLumenâs connected platform for Data Driven Disinfection⢠applies the power of ultraviolet light (UVC) to destroy pathogens safely, thoroughly, and automatically, addressing the challenge of healthcare-acquired infections ("HAIs"). Targeted for use in facilities that have high customer turnover such as hospitals, hotels, commercial facilities, and other public spaces, the Companyâs Lumicide⢠platform uses UVC LEDs in several patented designs for infection control in and around high-traffic areas, including sinks and restrooms, killing bacteria, viruses, and other pathogens residing on hard surfaces within devicesâ proximity. The Companyâs patented in-drain disinfection device, Lumicide Drain, is the only product on the market that addresses this critical pathogen intensive location. SteriLumenâs AirocideÂŽ air purification devices are research backed, clinically proven, and developed for NASA with assistance from the University of Wisconsin. AirocideÂŽ is listed as an FDA Class II Medical device, utilizes a proprietary photocatalytic (PCO) bioconversion technology that draws air into a reaction chamber that converts damaging molds, microorganisms, dangerous airborne pathogens, destructive VOCs, allergens, odors and biological gasses into harmless water vapor and green carbon dioxide without producing ozone or other harmful byproducts. AirocideÂŽ applications include healthcare, hospitality, grocery chains, wine making facilities, commercial real estate, schools, dental offices, post-harvest, grocery, cannabis facilities and homes. For more information about Applied UV, Inc., and its subsidiaries, please visit the following websites: https://www.applieduvinc.com/; https://sterilumen.com/; https://www.airocide.com https://kesscience.com; https://scientificairmanagement.com www.airoclean420.com and, https://munnworks.com/.
Forward-Looking Statements
The information contained herein may contain âforwardâlooking statements.â Forwardâlooking statements reflect the current view about future events. When used in this press release, the words âanticipate,â âbelieve,â âestimate,â âexpect,â âfuture,â âintend,â âplan,â or the negative of these terms and similar expressions, as they relate to us or our management, identify forwardâlooking 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. Forwardâlooking statements are based on the Companyâs current expectations and assumptions regarding its business, the economy and other future conditions. Because forwardâlooking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict. The Companyâs actual results may differ materially from those contemplated by the forwardâlooking 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 forwardâlooking statements. Factors or events that could cause the Companyâs 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 forwardâlooking statements to conform these statements to actual results.
For additional Company Information:
Applied UV Inc.
Max Munn
Applied UV Interim CEO
max.munn@sterilumen.com
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Contacts
Brett Maas, Managing Principal
Hayden IR
brett@haydenir.com
(646) 536-7331