- AppTech Payments Corp. (OTC: APCX) had announced that it had received authorization to list its ordinary shares and warrants on the Nasdaq capital market and had effected a reverse split of its issued and outstanding ordinary shares at a ratio of 1 for 9.5. These are the details.
Yesterday, AppTech Payments Corp. (OTC: APCX) – a financial technology company fueling business experiences – announced the price of its subscribed public offering of 3,614,458 units, with each unit consisting of one common share and a warrant to purchase one. ordinary share. , at a public offering price of $ 4.15 per Unit, for aggregate gross proceeds of approximately $ 15 million, before the deduction of estimated subscription rebates, commissions and other offering costs.
The ordinary shares and the Warrants comprising the units are immediately separable and will be issued separately. And each warrant entitles the holder to purchase one common share at an exercise price of $ 5.1875 (125% of the offering price per unit) and expires 5 years from the date of issue.
In addition, the Company has granted the underwriters a 45-day option to purchase up to 542,168 additional common shares and / or additional warrants at the public offering price per security, less discounts and on-load commissions. firm, to cover over-allotments, if any. This offer is expected to close on or around January 7, 2022, subject to the satisfaction of customary closing conditions.
The Company has been authorized to list its common shares and warrants on the Nasdaq Capital Market, with its common shares trading under the symbol “APCX” and the warrants under the symbol “APCXW”, with trading commencing today. As part of the offer, the Company effected a split of its issued and outstanding common shares at a ratio of 1 to 9.5.
EF Hutton, a division of Benchmark Investments, LLC, acted as the sole book manager for the offering.
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