AppTech Payments Corp. announced that it has entered into a securities purchase agreement with a certain institutional investor to issue an aggregate of 1,666,667 shares of the company?s common stock, par value $0.001 per share and warrants to purchase up to 1,666,667 shares of common stock at an offering price per share and associated purchase warrants of $2.10 for the gross proceeds of $3.500001 million on October 24, 2023. Each purchase warrant has an exercise price of $2.74 per share, will be immediately exercisable and will have a term of exercise equal to 5 years from the initial exercise date.

The net proceeds to the company from the offering are expected to be approximately $3.2 million, after deducting placement agent fees and expenses and estimated offering expenses payable by the company. The transaction is expected to close on or about October 26, 2023, subject to the satisfaction of the closing conditions by the parties contained in the Purchase Agreement.