By Laura Lutz
Des Moines, Oct. 17 - USA Technologies, Inc. completed a $15 million private placement of stock.
The company sold 2,142,871 common shares to institutional investors for $7.00 per share.
William Blair & Co., LLC acted as placement agent.
Proceeds will be used for the purchase of e-Port devices for the company's Quick Start program for vending machine operators and bottlers.
USA Technologies provides services and technology for wireless non-cash transactions and energy management.
| Issuer: | USA Technologies, Inc.
|
| Issue: | Stock
|
| Amount: | $15,000,097
|
| Shares: | 2,142,871
|
| Price: | $7.00
|
| Warrants: | No
|
| Agent: | William Blair & Co., LLC
|
| Settlement date: | Oct. 17
|
| Stock symbol: | Nasdaq: USAT
|
| Stock price: | $7.95 at close Oct. 17
|
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