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AppTech Payments Corp. Announces Closing of $2.0 Million Underwritten Public Offering of Common Stock

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AppTech Payments Corp. (APCX) successfully closed a public offering of 2,000,000 shares of common stock at $1.00 per share, raising approximately $2.0 million. The underwriters have an option to purchase an additional 300,000 shares. EF Hutton acted as the sole book-runner for the offering. The securities were offered under a shelf registration statement on Form S-3 and the final prospectus supplement was filed with the SEC on March 26, 2024.
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AppTech Payments Corp.'s recent public offering of 2 million shares at $1.00 each indicates a strategic move to raise capital, likely for operational expansion or debt management. With a gross proceed of $2 million, the financial health of the company can be scrutinized. The offering price reflects the current market valuation and investor confidence. The decision to offer additional shares via an over-allotment option suggests a safeguard against potential excess demand, which could stabilize the stock price post-offering.

Analysts would assess the impact on earnings per share (EPS), given the dilution effect of increased shares outstanding. The capital infusion's effectiveness depends on how the funds are allocated—research and development, market expansion, or debt reduction. The involvement of EF Hutton as the sole book-runner adds credibility to the offering, potentially attracting institutional investors. However, the modest size of the offering could limit its impact on the company's long-term financial trajectory.

In the context of the fintech industry, where competition is fierce and innovation is rapid, AppTech's capital raise through an equity offering is a common practice to secure funding without incurring debt. The pricing at $1.00 per share can be compared to industry benchmarks to gauge market sentiment. The timing of the offering and subsequent SEC filings provide insights into the company's regulatory compliance and strategic planning.

Market trends will dictate the success of this offering, with investor appetite for fintech stocks being a key factor. The ability to exercise the over-allotment option will be telling of the market's reception. A successful offering could signal strength and investor confidence, potentially leading to a more favorable position in the competitive landscape. Conversely, a lackluster response might necessitate a reassessment of the company's market strategy and growth prospects.

CARLSBAD, Calif., March 27, 2024 (GLOBE NEWSWIRE) -- AppTech Payments Corp. (Nasdaq: APCX) (“AppTech” or the “Company”), a pioneering fintech company powering frictionless commerce, today announced the closing of its previously announced underwritten public offering of 2,000,000 shares of its common stock at a public offering price of $1.00 per share for aggregate gross proceeds of approximately $2.0 million, prior to deducting underwriting discounts and other offering expenses. In addition, the Company has granted the underwriters a 45-day option to purchase up to an additional 300,000 shares of common stock at the public offering price per share, less the underwriting discounts to cover over-allotments, if any.

EF Hutton LLC is acting as the sole book-runner for the offering.

The securities were offered by the Company pursuant to a "shelf" registration statement on Form S-3 (File No. 333-265526), including a base prospectus, filed with U.S. Securities and Exchange Commission (the "SEC") on June 10, 2022, as amended on July 8, 2022, and declared effective on July 15, 2022.

The offering was being made only by means of a prospectus supplement and accompanying prospectus. The final prospectus supplement and accompanying base prospectus related to the securities being offered in the offering were filed with the SEC on March 26, 2024.

Copies of the prospectus supplement and the accompanying prospectus relating to this offering may be obtained on the SEC’s website at http://www.sec.gov or by contacting EF Hutton LLC Attention: Syndicate Department, 590 Madison Avenue, 39th Floor, New York, NY 10022, by email at syndicate@efhuttongroup.com, or by telephone at (212) 404-7002.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy any of the securities described herein, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. Any offer, if at all, will be made only by means of the prospectus supplement and accompanying prospectus forming a part of the effective registration statement.

About AppTech Payments Corp.

AppTech Payments Corp. (NASDAQ: APCX) provides digital financial services for financial institutions, corporations, small and midsized enterprises (“SMEs”), and consumers through the Company’s scalable cloud-based platform architecture and infrastructure, coupled with our Specialty Payments development and delivery model. AppTech maintains exclusive licensing and partnership agreements in addition to a full suite of patented technology capabilities. For more information, please visit apptechcorp.com.

Notice Regarding Forward-Looking Statements

The information contained herein includes forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and Section 27A of the Securities Act of 1933, as amended. These statements include, among others, statements regarding the proposed public offering, and the timing of the offering. Forward-looking statements generally include statements that are predictive in nature and depend upon or refer to future events or conditions, and include words such as "may," "will," "should," "would," "expect," "plan," "believe," "intend," "look forward," and other similar expressions among others. These statements relate to future events or to the Company’s future financial performance, and involve known and unknown risks, uncertainties and other factors that may cause the Company’s actual results to be materially different from any future results, levels of activity, performance or achievements expressed or implied by these forward-looking statements. You should not place undue reliance on forward-looking statements since they involve known and unknown risks, uncertainties and other factors which are, in some cases, beyond the Company’s control and which could, and likely will, materially affect actual results, levels of activity, performance or achievements. Any forward-looking statement reflects the Company’s current views with respect to future events and is subject to these and other risks, uncertainties and assumptions relating to the Company’s operations, results of operations, growth strategy and liquidity. More detailed information about the Company and the risk factors that may affect the realization of forward-looking statements is set forth in the Company’s most recent Annual Report on Form 10-K and other filings with the SEC. Investors and security holders are urged to read these documents free of charge on the SEC’s website at http://www.sec.gov. Except as may be required by applicable law, the Company assumes no obligation to publicly update or revise these forward-looking statements for any reason, or to update the reasons actual results could differ materially from those anticipated in these forward-looking statements, whether as a result of new information, future events or otherwise.

Investor Relations Contact
CORE IR
Scott Arnold
scotta@coreir.com

AppTech Payments Corp.
760-707-5959
info@apptechcorp.com


AppTech Payments Corp. (APCX) offered 2,000,000 shares of common stock in the public offering.

The public offering price per share for the common stock in the offering by AppTech Payments Corp. (APCX) was $1.00.

EF Hutton acted as the sole book-runner for the public offering by AppTech Payments Corp. (APCX).

AppTech Payments Corp. (APCX) raised approximately $2.0 million in aggregate gross proceeds in the public offering.

The final prospectus supplement related to the securities offering was filed with the SEC on March 26, 2024, by AppTech Payments Corp. (APCX).
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About APCX

apptech is a financial services and information technology company. with electronic payments at its core, the company offers an array of service lines to both business and consumer markets through its branded subsidiaries, transcendent one and transtech one. the company focuses on patented mobile technologies to compliment its product and service offerings. transcendent one is the first and only merchant-owned credit card processing company that offers its merchants shares in our company based on merchant processing volume. the company is a provider of merchant services, including credit card processing, electronic check & ach processing, gift & loyalty card programs, and merchant cash advance services. transtech one offers commercial and residential it services through its regional transtech one retail service centers. the company prides itself as the only information technology services company that offers merchant services and vice versa. headquartered in carlsbad, ca the compa