USA Technologies, Inc. Announces Closing of Public Offering Generating Gross Proceeds of $75.7 Million
May 25 2018 - 11:20AM
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 6,330,449 shares of
its common stock sold by USAT and 553,187 shares of its common
stock sold by certain selling shareholders, at a public offering
price of $11.00 per share. The foregoing included the full exercise
of the underwriters’ option to purchase 897,866 additional shares
from USAT. The gross proceeds generated from the offering, before
deducting underwriting discounts and commissions and other offering
expenses, was approximately $69.6 million to USAT and $6.1 million
to the selling shareholders.
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 May
22, 2018. 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 Securities, Inc., 150 South Fifth Street, Suite 3300,
Minneapolis, Minnesota 55402, Attention: Heidi Fletcher, or by
calling (612) 851-4918, or by e-mail at
hfletcher@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 Mobile® for customers on the go, ePort®
Interactive, and QuickConnect, an API Web service for developers.
Through its recent acquisition of Cantaloupe Systems, Inc.
(“Cantaloupe”), the company also offers logistics, dynamic route
scheduling, automated pre-kitting, responsive merchandising,
inventory management, warehouse and accounting management
solutions. Cantaloupe is a premier provider of cloud and mobile
solutions for vending, micro markets, and office coffee
services.
F-USAT
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The Blueshirt GroupInvestors:Monica Gould,
212-871-3927monica@blueshirtgroup.comorLindsay Savarese,
212-331-8417lindsay@blueshirtgroup.com
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