secwatch.observer — SEC 8-K summary
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Issuer:     AppTech Payments Corp. (APCX)
CIK:        0001070050
Form:       8-K
Filed at:   2024-07-12T23:59:59+00:00
Accession:  0001683168-24-004806
Event type: debt
Sentiment:  neutral
Materiality: 0.65
Item codes: 1.01, 2.03, 3.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

AppTech raises $1M via 6% convertible debenture with warrant coverage
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- Closed $1.1M principal 6% convertible debenture sold at $1M (10% OID); net proceeds ~$960K after fees.
- Conversion price $1.07 per share; warrant for 750K shares at $1.16, 5-year term.
- Issued 100K commitment shares to investor and designee; registration rights filed within 30 days.
- Debenture matures in 12 months; redeemable at 110% of principal plus accrued interest.
- Beneficial ownership cap of 4.99% (can increase to 9.99% with 61 days notice).

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1070050/000168316824004806/0001683168-24-004806-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1070050/000168316824004806/apptech_8k.htm
  HTML page:      https://secwatch.observer/filing/0001683168-24-004806

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer