USA Technologies, Inc. Announces Closing of Public Offering Generating Gross Proceeds of $75.7 Million

USA Technologies, Inc. Announces Closing of Public Offering Generating Gross Proceeds of $75.7 Million

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, Friday 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.

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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 [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 e-mail 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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