Malvern-based USA Technologies, Inc. Announces Pricing of Public Offering

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MALVERN, PA — USA Technologies, Inc. (NASDAQ:USAT), a premier payment technology service provider of integrated cashless and mobile transactions in the self-service retail market, today announced that on May 22, 2018, 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 $11.00 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, 2018, subject to customary closing conditions.

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William Blair & Company, L.L.C. 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.

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 will be made only by means of a prospectus, copies of which, when available, 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 email at [email protected]; 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 [email protected]; from Northland Securities, Inc., 150 South Fifth Street, Suite 3300, Minneapolis, Minnesota 55402, Attention: Heidi Fletcher, or by calling (612) 851-4918, or by email at [email protected]; 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 [email protected] Northland Capital Markets is the trade name for certain capital markets and investment banking services of Northland Securities, Inc., member FINRA/SIPC.

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Source: USA Technologies Inc, 100 Deerfield Ln Ste 300, Malvern PA 19355

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