Correction Notice to Press Release Regarding Pricing of $15.0 Million Underwritten Public Offering and Nasdaq Listing

Rhea-AI Summary

AppTech Payments Corp. (NASDAQ: APCX) issued a correction regarding its reverse stock split timing originally announced on January 4, 2022. The effective time of the reverse split is now correctly stated as 12:01 a.m. Eastern Time on January 5, 2022. This change clarifies the intended schedule for the split, which aims to enhance shareholder value and align the company's stock price with industry standards.

Positive

• Clarification of reverse stock split timing aims to enhance shareholder transparency.
• Intended benefits from the reverse stock split may help in aligning stock price with industry benchmarks.

Negative

• Correction indicates a prior error which may lead to investor confusion.
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CARLSBAD, Calif., Jan. 05, 2022 (GLOBE NEWSWIRE) -- AppTech Payments Corp. (“AppTech”) (NASDAQ: APCX) announced today a correction to its press release issued on January 4, 2022 in respect to the effective time of its reverse stock split. In the press release the effective time of its reverse stock split was misstated as on or about 8:50 a.m. Eastern Time, on Wednesday, January 5, 2022. The correct effective time is 12:01 a.m. Eastern Time, on Wednesday, January 5, 2022.

About AppTech

AppTech Payments Corp. is a publicly listed fintech company utilizing innovative payment processing and digital banking technologies to complement core merchant services capabilities. AppTech’s patented and proprietary software will provide progressive and adaptable products that are available through a suite of synergistic offerings directly to merchants, banking institutions and business enterprises.

AppTech is developing an embedded, highly secure digital payments and banking platform that powers commerce experiences for clients and their customers. Based upon industry standards for payment and banking protocols, AppTech will offer standalone products and fully integrated solutions that deliver innovative, unparalleled payments, banking, and financial services experiences. Our processing technologies can be taken off-the-shelf or tapped into via our RESTful API to build fully branded and customizable experiences while supporting tokenized, multi-channel, and multi-method transactions. For more information about our company, please visit www.apptechcorp.com.

Contact

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

 

FAQ

What is the effective time of AppTech's reverse stock split?

The effective time of AppTech's reverse stock split is 12:01 a.m. Eastern Time on January 5, 2022.

Why did AppTech issue a correction to its January 4 press release?

AppTech issued a correction to accurately state the effective time of its reverse stock split, which was misstated in the previous release.

What is the stock symbol for AppTech Payments Corp.?

The stock symbol for AppTech Payments Corp. is APCX.

How does the reverse stock split affect shareholders?

The reverse stock split aims to enhance shareholder value by aligning the stock price with industry standards, though it may create initial confusion.