Applied UV Announces Pricing Of $5M Underwritten Public Offering Of 5M Shares Of Common Stock And Pre-Funded Warrants At A Price Of $1/Share
Portfolio Pulse from Benzinga Newsdesk
Applied UV (NASDAQ:AUVI) has priced its underwritten public offering of 5 million shares of common stock and pre-funded warrants at $1.00 per share, raising approximately $5 million. The company has also granted the underwriter a 45-day option to purchase up to 750,000 additional shares.
June 16, 2023 | 12:46 pm
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Applied UV's public offering of 5 million shares and pre-funded warrants at $1.00 per share may impact its stock price in the short term.
The announcement of the public offering may lead to a short-term negative impact on AUVI's stock price, as the market absorbs the new shares and pre-funded warrants. Additionally, the offering price of $1.00 per share may be perceived as dilutive to existing shareholders, potentially causing a downward pressure on the stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100