AppTech Payments Corp. (APCX) Form 8-K — Oct 5, 2026
$APCXForm 8-KItems 1.01, 2.03, 3.02, 9.01Filed Oct 5, 2026, 4:43 PM ET0001683168-26-007621Original filing
AppTech Payments Corp. entered a Securities Purchase Agreement with GS Capital Partners on September 29, 2026, issuing a $560,000 convertible promissory note and 80,000 shares of common stock. The note carries 10% interest, a $55,000 original issue discount (netting $505,000 in gross proceeds), and matures November 28, 2027, with six $87,000 principal installments beginning 180 days after issuance. It is convertible at a fixed $2.00 per share, but upon default converts at 80% of the lowest 10-day VWAP — a punitive 20% discount feature.
Key figures
- Debt Amount
- 560000
- Interest Rate
- 10
- Maturity Date
- 2027-11-28
- Gross Proceeds
- 505000
- Shares issued
- 80000
- Reserved shares
- 3600000
- Principal payments
- 6 payments of $87,000 each starting 180 days after issue; final payment $95,000 on Nov 29, 2027
- Default interest rate
- 18%
- Conversion price fixed
- 2
- Original issue discount
- 55000
- Default amount multiplier
- 150%
- Beneficial ownership limit
- 4.99%
- Default conversion discount
- 20% (80% of lowest 10-day VWAP)
- Late delivery liquidated damages
- $500 per day
AI analysis
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