AppTech Payments Corp. (APCX): M&A transaction — AppTech Payments completes acquisition of FinZeo (Alliance Partners) for $2M cash

AppTech Payments Corp.

Acquired Alliance Partners, LLC (FinZeo) for $2M cash; $500K paid at closing, $750K due by Jan 7, 2024 and $750K by Apr 7, 2024.
FinZeo provides payment and banking tech API; expected to augment AppTech's Commerse™ suite as a Payment Facilitator (PayFac).
Acquisition aligns with AppTech's strategy to drive revenue synergy and specialty payments; FinZeo team joined AppTech.
No financial impact or integration timeline disclosed beyond closing date October 26, 2023.

Key facts

Extracted from this filing and checked against the source text.

M&A Transactions SEC 8-K Item 2.01/5.01 confidence 0.9

AppTech Payments Corp. completed an acquisition involving Alliance Partners, LLC for $2,000,000 in cash (closed 2023-10-26).

Action: acquisition
Counterparty: Alliance Partners, LLC
Consideration: $2,000,000 in cash
Closing: 2023-10-26

Exact text from the filing

(the “Transaction”). As consideration for the purchase of the membership interests of Alliance Partners, the Company has agreed to pay the Seller a total consideration of $2,000,000 in cash and assume the obligations and liabilities of Alliance Partners, subject to the satisfaction of certain customary closing conditions. The Company closed the Transaction on

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Source: SEC EDGAR

accession 0001683168-23-007438

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