IPOS - AppTech Payments Corp. Announces Pricing of $2.0 Million Underwritten Public Offering of Common Stock | Benzinga
CARLSBAD, Calif., March 26, 2024 (GLOBE NEWSWIRE) -- AppTech Payments Corp. (NASDAQ:APCX) ("AppTech" or the "Company"), a pioneering fintech company powering frictionless commerce, today announced the pricing 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. The offering is expected to close on March 27, 2024, subject to satisfaction of customary closing conditions.
EF Hutton LLC is acting as the sole book-runner for the offering.
AppTech intends to use the net proceeds from the offering for integration of existing business, working capital and general corporate purposes.
The securities are being offered by the Company pursuant to a "shelf" registration statement on Form S-3 (File No. 333-265526), including a preliminary prospectus supplement filed with U.S. Securities and Exchange Commission (the "SEC") on March 26, 2024 and the and accompanying base prospectus, filed with the SEC on June 10, 2022, as amended on July 8, 2022, and declared effective on July 15, 2022 and a final prospectus supplement that will be filed on or before March 27, 2024.
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