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Market Overview

USA Technologies Raises $55M In Private Placement At 11.6% Discount

  • Software and payments company USA Technologies Inc (NASDAQ: USATsold 5.73 million shares at $9.60 per share in a private placement to raise $55 million. The offer price signifies an 11.6% discount to the Wednesday closing price of $10.86.
  • The offering proceeds will be utilized for general corporate purposes.
  • J.P. Morgan is the lead placement agent, and Craig-Hallum Capital Group and Northland Capital Markets are the joint placement agents for the private placement.
  • USAT stock has gained over 33% in the last three months.
  • Price action: USAT shares are down 4.79% at $10.34 on the last check Thursday.

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