debt
confidence high
sentiment neutral
materiality 0.65
AppTech raises $950K via 18% notes and warrants; LendSpark and Manetto participate
AppTech Payments Corp.
- Issued two $500K 18% promissory notes to LendSpark and Manetto Hill Fund; net proceeds $475K each after $25K OID.
- Notes mature 14 months from April 3, 2026; convertible at $2.00/share; 4.99% beneficial ownership cap.
- Each investor received warrants to buy 500K shares at $1.00/share for 5 years.
- Subsidiary Infinitus Pay Inc. guaranteed obligations and granted security interest in collateral.
- Placement agent HCC Securities Group received fees; offering exempt under Rule 506(b).
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