AppTech Corp. Files S-1 SEC Registration Statement

Rhea-AI Summary

AppTech Corp. (OTC: APCX) announced a follow-on public offering (FPO) of $15 million in common stock, filed with the SEC. The funds will support the expansion of its digital banking, payment acceptance, telehealth services, and general corporate purposes. This move also coincides with AppTech's plans to uplist to the NASDAQ Capital Market. The offering aims to enhance capital for growth amid competitive fintech market conditions.

Positive

• Plans to raise $15 million to support business expansions.
• Aiming for NASDAQ uplisting which could attract more investors.

Negative

• Potential dilution of existing shareholder value due to new stock issuance.
• Risks associated with competition and market acceptance of new products.

CARLSBAD, Calif., Feb. 17, 2021 (GLOBE NEWSWIRE) -- AppTech Corp. (“AppTech“)(OTC: APCX), a fintech company, announced today that it has filed a follow-on public offering (“FPO”) for $15,000,000 of company common stock with the U.S. Securities and Exchange Commission (the “SEC”) pursuant to an S-1 registration statement. The company intends to use the net proceeds of the proposed offering to further supplement its digital banking and payment acceptance business expansion, telehealth and remote patient monitoring business expansion, and other general corporate purposes. The offering will aid AppTech in raising capital in conjunction with the company’s intended application to uplist to the National Association of Securities Dealers Automated Quotations (“NASDAQ”) Capital Market.

This press release shall not constitute an offer to sell or a solicitation of an offer to buy, 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 the registration or qualification under the securities laws of such state or jurisdiction.

About AppTech (OTC: APCX)
AppTech Corp. is a financial technology company utilizing innovative payment processing technologies to complement its core merchant services capabilities. Its patented and proprietary software for merchant services, text marketing and lead generation are licensable or available through a suite of synergistic offerings. AppTech is developing an enterprise-grade text payment system using the simplicity and familiarity of text messaging with multi-factor authentication to ensure security. AppTech also offers digital marketing, software development, mobile app development, website development, website hosting & comprehensive payment processing for brick-and-mortar operations, e-commerce and ACH. For more information about our company, please visit: www.apptechcorp.com

Forward Looking Statements
This press release contains forward-looking statements, as that term is defined in the Private Litigation Reform Act of 1995, that involve significant risks and uncertainties, including statements regarding anticipated third quarter results. Forward-looking statements can be identified through the use of words such as “anticipates,” “expects,” “intends,” “plans,” “believes,” “seeks,” “estimates,” “may,” “will,” “should,” and variations of these words or similar expressions. Readers are cautioned not to place undue reliance on these forward-looking statements, which reflect AppTech Corp. current expectations and speak only as of the date of this release. Actual results may differ materially from AppTech Corp. current expectations depending upon a number of factors. These factors include, among others, adverse changes in general economic and market conditions, competitive factors including but not limited to pricing pressures and new product introductions, uncertainty of customer acceptance of new product offerings and market changes, risks associated with managing the growth of the business, and those other risks and uncertainties. Except as required by law, AppTech Corp. does not undertake any responsibility to revise or update any forward-looking statements.

Contacts:
AppTech Corp. Investor Relations
ir@apptechcorp.com
(760) 707-5955

James S. Painter III
Emerging Markets Consulting, LLC
jamespainter@emergingmarketsllc.com
(321) 206-6682

FAQ

What is the purpose of AppTech Corp.'s recent public offering?

The offering aims to raise $15 million to fund business expansions in digital banking, payment acceptance, and telehealth services.

How much is AppTech Corp. looking to raise through its follow-on public offering?

AppTech Corp. is looking to raise $15 million.

What are the plans for the funds raised in the public offering by AppTech Corp.?

The funds will be used for expansion of digital banking, telehealth services, and other general corporate purposes.

What stock exchange is AppTech Corp. planning to uplist to?

AppTech Corp. plans to uplist to the NASDAQ Capital Market.

What are the potential risks associated with AppTech Corp.'s public offering?

Potential risks include dilution of existing shareholder value and competitive market challenges.