Applied UV Inc Prices New Preferred–Update

The OTC ticker has been assigned and it is AUVPP

Applied UV Inc (AUVI), which announced this new issue weeks ago has finally priced the issue.

The issue prices at 10.5%, is cumulative, perpetual and while technically would pay qualified dividends–you must have income to pay qualified dividends thus I call the dividends variable (qualified if they have income and not qualified if they have losses–return of capital if there is no income). Dividends are paid monthly.

The issue becomes callable in a year at $30/share (yes really). The premium for a call reduces annually for 5 years (seeing pricing term sheet for details).

No OTC grey market ticker has yet been announced.

The pricing term sheet is here.

EarlyBird was on this early.

6 thoughts on “Applied UV Inc Prices New Preferred–Update”

  1. Wouldn’t the part of the distributions not covered by income be treated as Return of Capital?

      1. lol, what a tale. Munn should option the rights to the story and pitch Adam Sandler to star (think “Uncut Gems”).

    1. The high yield tells you that it is risky. It is in a go go industry, loses money every quarter and has a tiny float.

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