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Applied UV Tumbles After Pricing Public Offering -Breaking

by Mike Robinson

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Sam Boughedda

Investing.com — Apply UV Inc (NASDAQ:)After pricing the public offering at 16% less than its Tuesday closing price,, a company that specializes in technologies to prevent infection, its shares fell Wednesday.

After the announcement, applied UV shares dropped to $2.45. As of Tuesday’s close, the shares are 24% less than Tuesday’s close of $2.71.

Underwritten offerings of 2.7million shares of common stock were priced at $3 each share by the company. It plans to raise $8million from this offering.

They also gave the underwriters 45 days to buy up to 400,000 additional shares at the public offer price. Investors were informed by the company that it plans to use the funds raised for corporate general purposes including acquisitions and new investments.

New York’s company, based in New York, announced on Monday that its CEO was resigning for personal reasons. Max Munn, the founder, president and chief executive officer, was elected interim CEO

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