Includes Full Exercise of the Underwriters' Option to Purchase
Additional Shares
MALVERN, Pa.--(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 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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Investor Contact:
The Blueshirt Group
Mike Bishop, +1
415-217-4968
mike@blueshirtgroup.com
Source: USA Technologies, Inc.
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