USA Technologies, Inc. Announces Closing of Public Offering Generating Gross Proceeds of $43.1 Million
July 25 2017 - 4:05PM
Business Wire
Includes Full Exercise of the Underwriters’
Option to Purchase Additional Shares
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 the
closing of its underwritten public offering of 9,583,332 shares of
its common stock at a public offering price of $4.50 per share. The
foregoing included the full exercise of the underwriters’ option to
purchase 1,249,999 additional shares from USAT. The gross proceeds
to USAT from the offering, before deducting underwriting discounts
and commissions and other offering expenses, was approximately
$43.1 million.
William Blair & Company, L.L.C. acted as the sole
book-running manager and Craig-Hallum Capital Group LLC, Northland
Capital Markets and Barrington Research Associates, Inc. acted 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 was made only
by means of a prospectus, copies of which may be obtained from
William Blair & Company, L.L.C., 150 North Riverside Plaza,
Chicago, Illinois 60606, Attention: Prospectus Department, or by
calling (800) 621-0687, 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.
F-USAT
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version on businesswire.com: http://www.businesswire.com/news/home/20170725006333/en/
Investor Contact:The Blueshirt GroupMike Bishop, +1
415-217-4968mike@blueshirtgroup.com
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