USA Technologies, Inc. Announces Pricing of Public Offering
July 20 2017 - 7:30AM
Business Wire
USA Technologies, Inc. (NASDAQ:USAT) (“USAT”), a premier payment
technology service provider of integrated cashless and mobile
transactions in the self-service retail market, today announced
that on July 19, 2017, it priced its underwritten public offering
of 8,333,333 shares of its common stock at a public offering price
of $4.50 per share. The gross proceeds to USAT from the offering,
before deducting underwriting discounts and commissions and other
offering expenses, are expected to be approximately $37.5 million.
In addition, USAT has granted the underwriters a 30-day option to
purchase up to an additional 1,249,999 shares of common stock from
USAT on the same terms and conditions as the initial shares sold to
the underwriters. The offering is expected to close on July 25,
2017, subject to customary closing conditions.
William Blair & Company, L.L.C. is acting as the sole
book-running manager and Craig-Hallum Capital Group LLC, Northland
Capital Markets and Barrington Research Associates, Inc. are acting
as co-managers for the offering.
A registration statement relating to these securities was
declared effective by the Securities and Exchange Commission on
July 19, 2017. The offering of these securities will be made only
by means of a prospectus, copies of which, when available, may be
obtained from William Blair & Company, L.L.C., 150 North
Riverside Plaza, Chicago, Illinois 60606, Attention: Prospectus
Department, or by calling (800) 621-0867, or by e-mail at
prospectus@williamblair.com; from Craig-Hallum Capital Group LLC,
222 South 9th Street, Suite 350, Minneapolis, Minnesota 55402,
Attention: Anthony Humphrey, or by calling (612) 334-6300, or by
email at prospectus@chlm.com; from Northland Capital Markets, 45
South 7th Street, Suite 2000, Minneapolis, Minnesota 55402,
Attention: Geoff Turgeon, or by calling (612) 460-4806, or by
e-mail at gturgeon@northlandcapitalmarkets.com; or from Barrington
Research Associates, Inc., 161 North Clark Street, Suite 2950,
Chicago, Illinois 60601, Attention: Craig Christensen, or by
calling (312) 634-6356, or by email at cec@brai.com. Northland
Capital Markets is the trade name for certain capital markets and
investment banking services of Northland Securities, Inc., member
FINRA/SIPC.
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy, nor shall there be any sale of,
these securities in any state or jurisdiction in which such offer,
solicitation or sale would be unlawful prior to the registration or
qualification under the securities laws of such state or
jurisdiction.
About USA Technologies
USA Technologies, Inc. is a premier payment technology
service provider of integrated cashless and mobile transactions in
the self-service retail market. The company also provides a broad
line of cashless acceptance technologies including its NFC-ready
ePort® G-series, ePort® Connect, ePort® Interactive, QuickConnect,
an API Web service for developers, and MORE., a customizable
loyalty program. USA Technologies has 73 United States
and foreign patents in force, and has agreements with
Verizon, Visa, Chase Paymentech and customers such as Compass,
AMI Entertainment and others. For more information, please visit
the website at www.usatech.com.
Forward-Looking Statements
USAT cautions you that statements in this press release that are
not a description of historical facts are forward-looking
statements. These statements are based on the company’s current
beliefs and expectations. These forward-looking statements include
statements regarding the timing, size and nature of the public
offering. The inclusion of forward-looking statements should not be
regarded as a representation by USAT that any of our plans will be
achieved. Actual results may differ from those set forth in this
press release due to conditions affecting the capital markets,
general economic, industry, or political conditions, the
satisfaction of customary closing conditions related to the
proposed public offering, and other risks described in our prior
press releases and in our filings with the Securities and Exchange
Commission, including under the heading “Risk Factors” in the
registration statement. You are cautioned not to place undue
reliance on these forward looking statements, which speak only as
of the date hereof, and we undertake no obligation to revise or
update this press release to reflect events or circumstances after
the date hereof. All forward-looking statements are qualified in
their entirety by this cautionary statement, which is made under
the safe harbor provisions of the Private Securities Litigation
Reform Act of 1995.
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version on businesswire.com: http://www.businesswire.com/news/home/20170720005409/en/
The Blueshirt GroupMike Bishop, +1
415-217-4968mike@blueshirtgroup.comF-USAT
USA Technologies (NASDAQ:USAT)
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