8-K
filed February 1, 2023, 6:59 PM ET
CIK 0001811109
M&A
confidence high
sentiment positive
materiality 0.85
Applied UV, Inc.: M&A transaction — Applied UV completes acquisitions of PURO Lighting and LED Supply, expects ~$45-50M combined 2023 sales
Applied UV, Inc.
- Closed mergers with PURO Lighting and LED Supply on Jan 27, 2023; issued ~3.875M common shares, 400K Series C, and 1.25M Series B preferred as consideration.
- Series B (2% cumulative, $6 liquidation preference) and Series C (5% cumulative, $5 liquidation preference) created; convertible 1:1 into common.
- Acquisitions financed via $2.81M redeemable note from Streeterville Capital and $1.54M draw on Pinnacle Bank line of credit.
- Press release projects combined annualized revenue of ~$45-50M in 2023, roughly doubling company size; PURO's HVAC monitoring adds IoT capabilities.
- PURO's strategic relationship with Acuity Brands and Grainger cited as key growth channel for expanded disinfection portfolio.
Key facts
Extracted from this filing and checked against the source text.
Governance Changes
SEC 8-K Item 5.03/5.05/5.06
confidence 0.9
Applied UV, Inc.: Filed Certificate of Designations for Series B Preferred Stock, amending the articles of incorporation (effective 2023-01-25).
- Change
- charter amendment
- Effective
- 2023-01-25
Exact text from the filing
On January 25, 2023, the Company filed the Certificate of Designations, Rights, and Preferences for the Series B Preferred Stock with the Secretary of State of the State of Delaware, which became effective upon acceptance for record.
View on SEC.gov
Governance Changes
SEC 8-K Item 5.03/5.05/5.06
confidence 0.9
Applied UV, Inc.: Filed Certificate of Designations for Series C Preferred Stock, amending the articles of incorporation (effective 2023-01-25).
- Change
- charter amendment
- Effective
- 2023-01-25
Exact text from the filing
On January 25, 2023, the Company filed the Certificate of Designations, Rights, and Preferences for the Series C Preferred Stock with the Secretary of State of the State of Delaware, which became effective upon acceptance for record.
View on SEC.gov
M&A Transactions
SEC 8-K Item 2.01/5.01
confidence 0.9
Applied UV, Inc. completed an acquisition involving Old LED Supply (closed 2023-01-26).
- Action
- acquisition
- Counterparty
- Old LED Supply
- Closing
- 2023-01-26
Exact text from the filing
As a result of these issuances, agreements and payments the Company and Old LED Supply agreed that the acquisition of Old LED Supply by the Company was closed and the LED Supply Mergers could be effected as soon as possible.
View on SEC.gov
M&A Transactions
SEC 8-K Item 2.01/5.01
confidence 0.9
Applied UV, Inc. completed an acquisition involving Old PURO (closed 2023-01-26).
- Action
- acquisition
- Counterparty
- Old PURO
- Closing
- 2023-01-26
Exact text from the filing
As a result of these issuances and payments the Company and Old PURO agreed that the acquisition of Old PURO by the Company was closed and the PURO Mergers could be effected as soon as possible.
View on SEC.gov
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