AppTech Payments raises $3.5M in registered direct offering of common stock and warrants

AppTech Payments Corp.

Gross proceeds ~$3.5M from 1,666,667 shares and 1,666,667 warrants at $2.10 per unit.
Net proceeds ~$3.2M after placement agent fees and expenses.
Proceeds to fund acquisition of Alliance Partners, LLC and for working capital.
Warrants exercisable at $2.74 per share for 5 years from issuance.
Offering expected to close October 26, 2023; Titan Partners Group acted as placement agent.

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 "Placement Agent Agreement" with Titan Partners Group LLC, a division of American Capital Partners (effective 2023-10-24).

Action: entry
Agreement: underwriting
Counterparty: Titan Partners Group LLC, a division of American Capital Partners
Effective: 2023-10-24

Exact text from the filing

On October 24, 2023, the Company also entered into a placement agent agreement (the “ Placement Agent Agreement ”) with Titan Partners Group LLC, a division of American Capital Partners (the “ Placement Agent ”).

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

AppTech Payments Corp. amended "Warrant Amendment" with the holder of 1,666,667 warrants issued to the purchaser pursuant to the securities purchase agreement, dated January 30, 2023 (effective 2023-10-24).

Action: amendment
Agreement: equity purchase
Counterparty: the holder of 1,666,667 warrants issued to the purchaser pursuant to the securities purchase agreement, dated January 30, 2023
Effective: 2023-10-24

Exact text from the filing

In connection with the Purchase Agreement, the Company entered into an amendment to common stock purchase warrant (the “ Warrant Amendment ”) with the holder of 1,666,667 warrants issued to the purchaser pursuant to the securities purchase agreement, dated January 30, 2023, by and between the Company and a certain institutional investor.

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

AppTech Payments Corp. entered into "Purchase Agreement" with a certain institutional investor valued at approximately $3.5 million (effective 2023-10-24).

Action: entry
Agreement: equity purchase
Counterparty: a certain institutional investor
Value: approximately $3.5 million
Effective: 2023-10-24

Exact text from the filing

On October 24, 2023, AppTech Payments Corp., a Delaware Corporation (the “ Company ”), entered into a securities purchase agreement (the “ Purchase Agreement ”) with a certain institutional investor (the “ Purchaser ”).

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AppTech Payments Corp. filing history →

Source: SEC EDGAR

accession 0001683168-23-007357

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