AppTech Plans To Raise $2 Million With a $1 Per Share Public Offering

(CTN News) – Fintech company AppTech Payments Corp. (NASDAQ: APCX) announced the pricing of its public offering of 2 million shares at $1.00 each, aiming to raise $2 million before underwriting discounts and other expenses.

Underwriters have 45 days to purchase an additional 300,000 shares to cover any over-allotments. Depending on typical closing conditions, the offering is scheduled for March 27, 2024.

The sole bookrunner for this offering is EF Hutton LLC. In addition to integrating AppTech’s existing business, and working capital, the proceeds from the offering are intended for general corporate purposes.

As part of the offering, a preliminary prospectus supplement has been filed with the U.S. SEC on the date of the press release and the accompanying base prospectus, filed with the SEC on June 10, 2022, and amended on July 8, 2022.

A scalable cloud-based platform enables AppTech to provide digital financial services for a range of clients, including financial institutions, corporations, and consumers. Also, the company has exclusive licenses, partnerships, and patents.

According to AppTech Payments Corporation’s press release, the information in this article is accurate.

The Insights of InvestingPro

As AppTech Payments Corp. (NASDAQ: APCX) prepares for a new public offering, investors will pay attention to the company’s financial health and stock performance. With a market capitalization of $34.14M, AppTech is a small-cap company, which often has higher volatility and growth potential.

InvestingPro Tips suggest AppTech’s stock generally trades with high price volatility, which aligns with its recent significant return of 9.27% over the last week.

Short-term gains may appeal to traders seeking short-term gains, but higher risk is also implied. In addition, the company’s Price / Book ratio stands at 41.84 at the end of Q3 2023, indicating that its stock is overvalued.

Additionally, the company’s revenue growth is positive, rising 7.78% in the last twelve months as of Q3 2023, and even more impressively growing 21.74% one quarter to the next.

Although AppTech is not currently profitable, its operating income margin for the same period is staggering at -3011.46%. Since the company has not reported positive earnings per share, there is no P/E ratio.

As InvestingPro Tips points out, analysts do not anticipate the company to become profitable this year, and it has not been profitable over the past year. It could be a red flag for investors who prioritize earnings and stability.

For more in-depth analysis and additional tips on AppTech, potential investors can visit InvestingPro and use the coupon code PRONEWS24 for 10% off a yearly or biyearly Pro and Pro+ subscription. On InvestingPro, there are nine additional tips that could provide additional insight into AppTech’s financial health.

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