AppTech Payments signs definitive agreement to acquire FinZeo for $2M cash, expected close by Oct 31

AppTech Payments Corp.

Acquires Alliance Partners (FinZeo) for $2M cash: $500K at close, $750K by Jan 7 2024, $750K by Apr 7 2024.
Transaction expected to close by October 31, 2023, subject to customary closing conditions.
Integration of FinZeo positions AppTech as a Payment Facilitator (PayFac) and enhances its Commerse platform.
AppTech gains a seasoned team with 20+ years of payment processing sales experience and software development resources.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

AppTech Payments Corp. entered into Membership Interest Purchase Agreement with Alliance Partners, LLC and Chris Leyva valued at total consideration of $2,000,000 in cash (effective 2023-10-13).

Action: entry
Agreement: asset purchase
Counterparty: Alliance Partners, LLC and Chris Leyva
Value: total consideration of $2,000,000 in cash
Effective: 2023-10-13

Exact text from the filing

On October 13, 2023, AppTech Payments Corp., a Delaware corporation (the “ Company ”), Alliance Partners, LLC, a Nevada limited liability company (“ Alliance Partners ”), and Chris Leyva (the “ Seller ”), entered into a Membership Interest Purchase Agreement (the “ Purchase Agreement ”), pursuant to which the Company agreed, upon the terms and subject to the conditions of the Purchase Agreement, to purchase all of the Seller’s interest in, to and under the membership interests of Alliance Partners (the “ Transaction ”).

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Source: SEC EDGAR

accession 0001683168-23-007179

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