Applied UV soars after cash-and-stock buyout

Applied UV

29/09/2021 13:32

** Air purification tech co's shares  AUVI.O  surge 40% to
$9.15 premarket - biggest percentage gain in over 7 months; more
than 77x 25-DMA shares traded
    ** Top pct. gainer and one of heaviest volumes across
exchanges before opening bell
    ** AUVI says its subsidiary SteriLumen Inc has completed a
buyout of privately held co KES Science & Technology Inc (KES)
and JJS Technologies  urn:newsml:reuters.com:*:nACSf71V8a
    ** Says it has paid KES in a combination of cash and stock-
$4.3 mln in cash and 300,000 in AUVI shares 
    ** Deal gives AUVI access to KES' air purification products
that prevent spoilage in F&B processing industry as well as
cannabis industry
    ** AUVI says it expects deal to contribute about $5 mln-$7
mln in rev. in 2022 and to immediately add to AUVI's EPS
    ** AUVI's stock rose 42.3% YTD up to Tuesday's close

 (Reporting by Ruhi Soni in Bengaluru)
 ((Ruhi.Soni@thomsonreuters.com;))