AppTech raises $5M equity from AFIOS, appoints three new directors; board reduced to five

AppTech Payments Corp.

AFIOS invests $5M for 5.2M shares at $0.96 avg price; $2.5M received Dec 16, 2024; up to $14M from ~13M warrants at $0.90-$1.20.
Board reduced from 7 to 5; Virgilio Llapitan, Michael O'Neal, Christopher Williams, William Huff resigned.
Appointed Albert L. Lord (ex-Sallie Mae CEO), Thomas J. Kozlowski Jr. (AFIOS President), Calvin D. Walsh (Siemens exec) as directors.
Warrants have 5-year term; exercise prices $0.90 and $1.20 per share; total potential equity up to $19M if fully exercised.
Previous directors Roz Huang also resigned; Luke D'Angelo remains Chairman and CEO.

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