secwatch.observer — SEC 8-K summary
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Issuer:     AppTech Payments Corp. (APCX)
CIK:        0001070050
Form:       8-K/A
Filed at:   2024-12-17T23:59:59+00:00
Accession:  0001683168-24-008796
Event type: other_material
Sentiment:  positive
Materiality: 0.80
Item codes: 1.01, 3.02, 5.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1070050/000168316824008796/0001683168-24-008796-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1070050/000168316824008796/apptech_8ka1.htm
  HTML page:      https://secwatch.observer/filing/0001683168-24-008796

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