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USA Technologies Announces Pricing Of Public Offering

MALVERN, PA -- USA Technologies Inc . announced that on May 22, it priced its underwritten public offering consisting of 5,432,583 shares of its common stock to be sold by USAT and 553,187 shares of its common stock to be sold by certain selling shareholders, at a public offering price of $11 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 $59.76 million. In addition, USAT...

May 23, 2018

MALVERN, PA -- USA Technologies Inc. announced that on May 22, it priced its underwritten public offering consisting of 5,432,583 shares of its common stock to be sold by USAT and 553,187 shares of its common stock to be sold by certain selling shareholders, at a public offering price of $11 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 $59.76 million. In addition, USAT has granted the underwriters a 30-day option to purchase up to an additional 897,866 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 May 25, subject to customary closing conditions.
 
William Blair & Co. LLC is acting as the sole book-running manager, and Craig-Hallum Capital Group LLC, Northland Securities Inc., and Barrington Research Associates Inc. are acting as co-managers for the offering.