Applied UV Inc (AUVI)

[JohnLocke101]

Applied UV rallies on KES Science & Technology assets acquisition

Applied UV's (NASDAQ:AUVI) rallied 34% higher premarket after its wholly-owned subsidiary SteriLumen closed on the acquisition of substantially all of the assets of privately-held KES Science & Technology and JJS Technologies including all the rights to manufacture and sell all of its patented, air disinfection and purification technologies, for $4.3M in cash and 300K shares of Applied UV stock.

Neither SteriLumen nor Applied UV will assume any long-term debt or non-operating liabilities of KES.
The current acquisition and Akida deal in February, Applied UV presence will be boosted in major markets including food distribution, cannabis and post-harvest, wineries, and retail sectors.

KES is expected to contribute ~$5-7M in revenue in 2022 and be immediately accretive to Applied UV's EPS.

SA Link