Applied UV Announces Common Stock Repurchase Program

Applied UV Announces Common Stock Repurchase Program

MOUNT VERNON, N.Y.–(BUSINESS WIRE)–Applied UV, Inc. (NasdaqCM: AUVI) (“Applied UV” or the “Company”), a pathogen elimination technology company that applies the power of narrow-range ultraviolet light (“UVC”) for surface areas and catalytic bioconversion technology for air purification to destroy pathogens safely, thoroughly, and automatically, announces that its Board of Directors (the “Board”) has authorized a common share repurchase program to repurchase up to one million shares (13.5% of the Company’s public float) of the Company’s outstanding common stock. The share repurchase authorization is effective immediately and the Company’s management team may make open market repurchases of the Company’s common stock as authorized until September 30, 2022. Max Munn, Applied UV’s interim CEO stated, “The Board’s decision to authorize this share repurchase program reflects the Company’s commitment to creating shareholder value, our strong balance sheet and the expectations we have for 2022.” Mr. Munn further stated, “The Company will continue its ongoing efforts to create shareholder value by prioritizing capital allocations that support its business plan and growth strategy.” 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. (“SteriLumen”) and Munn Works, LLC (“Munn Works”). SteriLumen’s 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 Company’s 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 devices’ proximity. The Company’s patented in-drain disinfection…

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