Apptech Payments May Offer And Sell Shares Of Common Stock Of Up To $18M From Time To Time; Have Entered Into At Market Offering Agreement Relating To Shares Of Common Stock Offered By Prospectus Supplement
Portfolio Pulse from Benzinga Newsdesk
Apptech Payments (APCX) has entered into an at-market offering agreement to potentially sell shares of its common stock up to $18 million. The shares will be offered by prospectus supplement.
August 21, 2023 | 1:15 pm
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Apptech Payments' decision to sell shares of its common stock could potentially dilute existing shareholders' equity, which may lead to a short-term decrease in the stock price.
The announcement of a new stock offering often leads to a decrease in the stock price due to potential dilution of existing shareholders' equity. The magnitude of the impact will depend on the market's perception of the company's use of the raised capital.
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