CARLSBAD, Calif. - AppTech Payments Corp. (NASDAQ: APCX), a fintech company focused on commerce solutions, has announced the pricing of its public offering of 2 million shares at $1.00 each, aiming to raise $2 million before deductions for underwriting discounts and other expenses.
The underwriters have a 45-day option to buy up to an additional 300,000 shares to cover any over-allotments. The offering is slated to close on March 27, 2024, contingent on typical closing conditions.
EF Hutton LLC is the sole book-runner for this offering. The proceeds from the offering are intended for the integration of AppTech's existing business, working capital, and general corporate purposes.
The offering is being made under an effective "shelf" registration statement, including a preliminary prospectus supplement filed with the U.S. Securities and Exchange Commission (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.
AppTech specializes in digital financial services for a range of clients, including financial institutions, corporations, and consumers, leveraging a scalable cloud-based platform. The company also holds exclusive licenses and partnership agreements, along with a suite of patented technology capabilities.
The information provided in this article is based on a press release statement from AppTech Payments Corp.
InvestingPro Insights
As AppTech Payments Corp. (NASDAQ: APCX) ventures into a new public offering, the company's financial health and stock performance are critical for potential investors. According to real-time data from InvestingPro, AppTech has a market capitalization of $34.14M, indicating it's a small-cap company, which often means higher volatility and potential for growth.
Speaking of volatility, one of the InvestingPro Tips suggests that AppTech's stock generally trades with high price volatility, which aligns with the recent significant return over the last week of 9.27%. This could be an attractive point for traders looking for short-term gains, but it also implies a higher risk profile. Additionally, the company's Price / Book ratio stands at a high 41.84 as of the last twelve months ending Q3 2023, which could indicate that the stock is currently overvalued relative to its book value.
Furthermore, the company's revenue growth is a positive sign, showing an increase of 7.78% over the last twelve months as of Q3 2023, and an even more impressive quarterly growth rate of 21.74%. However, it's important to note that AppTech is not currently profitable, with an operating income margin at a staggering -3011.46% for the same period. This is also reflected in the lack of a P/E ratio, as the company has not reported positive earnings per share.
The InvestingPro Tips highlight that analysts do not anticipate the company will be profitable this year, and it has not been profitable over the last twelve months. For investors who prioritize earnings and stability, these could be red flags. To access more in-depth analysis and additional tips on AppTech, potential investors can visit InvestingPro and use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription. Currently, there are 9 additional tips listed on InvestingPro that could provide further insights into AppTech's financial health and stock performance.
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