AppTech Payments prices $5M registered direct offering of 1.7M shares and warrants

AppTech Payments Corp.

Gross proceeds of $5.0M from sale of 1,666,667 common shares at $3.00 each, each with a warrant to buy one share at $4.64.
Warrants exercisable from Aug 1, 2023, for 5 years; net proceeds ~$4.5M after fees.
Proceeds to repay loan forbearance agreements (maturing Mar 31, 2023) and for working capital.
Directors and officers subject to 90-day lock-up; company restricted from issuing common stock for 90 days and from at-the-market or variable-rate deals for one year.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

AppTech Payments Corp. entered into Purchase Agreement with certain institutional investors valued at approximately $5.0 million (effective 2023-01-30).

Action: entry
Agreement: equity purchase
Counterparty: certain institutional investors
Value: approximately $5.0 million
Effective: 2023-01-30

Exact text from the filing

On January 30, 2023, AppTech Payments Corp., a Delaware Corporation (the “ Company ”), entered into a securities purchase agreement (the “ Purchase Agreement ”) with a certain institutional investors (the “ Purchasers ”).

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Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

AppTech Payments Corp. entered into Placement Agent Agreement with EF Hutton, division of Benchmark Investments, LLC (effective 2023-01-30).

Action: entry
Agreement: underwriting
Counterparty: EF Hutton, division of Benchmark Investments, LLC
Effective: 2023-01-30

Exact text from the filing

On January 30, 2023, the Company also entered into a placement agent agreement (the “ Placement Agent Agreement ”) with EF Hutton, division of Benchmark Investments, LLC (the “ Placement Agent ”).

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AppTech Payments Corp. filing history →

Source: SEC EDGAR

accession 0001903596-23-000090

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