Applied UV: Soars on acquisition of Akida Holdings

Applied UV

09/02/2021 16:33

** Shares of infection control technology co  AUVI.O  up as
much as 264.8%, or nearly four times, to $18.9; stock among top
pct gainers on Nasdaq 
    ** Co's unit SteriLumen closes acquisition of Akida Holdings
LLC for 1.375 mln common shares of AUV stock and about $901,274
in cash  urn:newsml:reuters.com:*:nACSWpVCXa
    ** Deal also includes all of the rights to manufacture and
sell the Airocide system, an airborne pathogen killing
technology, currently used by brands such as Hard Rock Cafe, the
U.S. Army, Stag's Leap vineyards 
    ** Co will not assume any long-term debt or non-operating
liabilities of Akida
    ** Akida's revenue for the full year 2020 is estimated to be
$4.7 mln with EBITDA of ~$921,000
    ** Up to last close, stock nearly doubled YTD

 (Reporting by Rithika Krishna in Bengaluru)
 ((Rithika.Krishna@thomsonreuters.com;))