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

by Anusuya Lahiri, Benzinga Staff Writer

February 25, 2021 10:19 AM | 1 min read | Make a Comment

Software and payments company USA Technologies Inc (NASDAQ: USAT) sold 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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