Apptech payments corp. announces closing of $5.0 million registered direct offering and concurrent private placement

Carlsbad, calif., feb. 02, 2023 (globe newswire) -- apptech payments corp. (nasdaq: apcx) (the “company” or “apptech”), an innovative fintech company powering seamless, omni-channel commerce between businesses and consumers, today announced the closing of its previously announced $5.0 million registered direct offering (the “registered direct offering”) with a single institutional investor to sell 1,666,667 shares of its common stock (the “shares”) and warrants to purchase up to 1,666,667 shares (the “warrants”) in a concurrent private placement (the “private placement”). the combined purchase price for one share and one warrant was $3.00. each of the warrants will have an exercise price of $4.64 per share of common stock and are exercisable on and after august 1, 2023. the warrants will expire five years from the date on which they become exercisable. the aggregate gross proceeds from the registered direct offering and the concurrent private placement were approximately $5.0 million before deducting placement agent fees and other estimated offering expenses.
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