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 filed a
registration statement on Form S-1 with the U.S. Securities and Exchange
Commission for a proposed underwritten public offering of its common
stock consisting of approximately $50.0 million of shares to be sold by
USAT and up to 553,187 shares to be sold by certain selling
shareholders. In addition, USAT expects to grant the underwriter a
30-day option to purchase up to an additional 15% of the total shares
sold in the offering to cover over-allotments.
William Blair & Company, L.L.C. is acting as sole book-running manager
for the offering.
A registration statement relating to these securities has been filed
with the Securities and Exchange Commission but has not yet become
effective. These securities may not be sold nor may offers to buy be
accepted prior to the time the registration statement becomes effective.
The offering of these securities will be made only by means of a
prospectus, copies of which, when available, may be obtained from
William Blair & Company, L.L.C., Attn: Prospectus Department, 150 North
Riverside Plaza, Chicago, IL 60606, or by calling (800) 621-0687 or by
e-mail at firstname.lastname@example.org.
This press release is not an offer for sale of the securities in the
United States or in any other jurisdiction where such offer is
prohibited, and such securities may not be offered or sold in the United
States absent registration or an exemption from registration under the
United States Securities Act of 1933, as amended.
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, 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.
USAT cautions you that statements in this press release that are not a
description of historical facts are forward- looking statements. These
statements are based on the company's current beliefs and expectations.
These forward-looking statements include statements regarding the filing
of the registration statement and the proposed public offering. The
inclusion of forward-looking statements should not be regarded as a
representation by USAT that any of its plans will be achieved. Actual
results may differ from those set forth in this press release due to
conditions affecting the capital markets, general economic, industry, or
political conditions, and the satisfaction of customary closing
conditions related to the proposed public offering, and other risks
described in our prior press releases and in USAT's filings with the
Securities and Exchange Commission, including under the heading "Risk
Factors" in the registration statement. You are cautioned not to place
undue reliance on these forward-looking statements, which speak only as
of the date hereof, and USAT undertakes no obligation to revise or
update this press release to reflect events or circumstances after the
date hereof. All forward-looking statements are qualified in their
entirety by this cautionary statement, which is made under the safe
harbor provisions of the Private Securities Litigation Reform Act of
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The Blueshirt Group
Monica Gould, +1 212-871-3927
Savarese, +1 212-331-8417
Source: USA Technologies, Inc.
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