AppTech (NASDAQ: APCX), an innovative fintech company powering seamless, omni-channel commerce between businesses and consumers, today announced the closing of its $5.0 million registered direct offering with a single institutional investor to sell 1,666,667 shares of its common stock and warrants to purchase up to 1,666,667 shares in a concurrent private placement. The combined purchase price for one share and one warrant was $3.00. AppTech secured approximately $5.0 million in aggregate gross proceeds, of which it intends to use the net proceeds and its existing cash for general corporate purposes. These include integrating Commerse(TM) platform clients, retiring all loan forbearance agreements, and for acquisition and working capital. EF Hutton, division of Benchmark Investments LLC, acted as the exclusive placement agent for the offering. Nelson Mullins Riley & Scarborough LLP acted as legal counsel to AppTech and Carmel, Milazzo & Feil LLP acted as legal counsel to EF Hutton.
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About AppTech Payments Corp.
AppTech is an innovative fintech company whose mission is to deliver a better way for businesses to provide their customers with customizable, immersive commerce experiences. Commerse(TM), its all-new, patent-backed technology platform, powers seamless omni-channel commerce experiences-as-a-service (“CXS”). The platform drives highly secure, scalable, cross-border digital banking, text-to-pay and merchant services together from a single, unified stack designed to increase operational efficiencies and growth for businesses while providing the economic convenience their customers demand from today’s commerce experiences. For more information, visit AppTechCorp.com.
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