AppTech Payments Corp. Announces Pricing Of $3.5M Registered Direct Offering
Portfolio Pulse from Benzinga Newsdesk
AppTech Payments Corp. (NASDAQ:APCX) has announced a registered direct offering of approximately $3.5 million of its common stock and warrants to a single institutional investor. The combined purchase price for each share and associated warrant will be $2.10. The company will issue 1,666,667 shares of common stock and warrants to purchase up to the same number of shares at $2.74 per share. The offering is expected to close on October 26, 2023.
October 24, 2023 | 1:10 pm
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AppTech's announcement of a registered direct offering could potentially dilute the value of existing shares, which may negatively impact the stock price in the short term.
The announcement of a registered direct offering increases the number of shares in circulation, which can dilute the value of existing shares. This often leads to a decrease in the stock price in the short term as the market adjusts to the increased supply of shares.
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