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 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 Group
Investors:
Monica Gould, 212-871-3927
monica@blueshirtgroup.com
or
Lindsay
Savarese, 212-331-8417
lindsay@blueshirtgroup.com
Source: USA Technologies, Inc.
News Provided by Acquire Media