New Issue: USA Technologies closes $10 million placement of shares

By Sheri Kasprzak

New York, March 15 - USA Technologies, Inc. wrapped a private placement of stock for $10 million.

The company sold 1,666,667 shares at $6.00 each to S.A.C. Capital Associates, LLC.

The investor also received warrants for 833,333 shares, exercisable at $6.40 each for six years.

Based in Malvern, Pa., USA Technologies develops networked devices used for non-cash payment methods, data reporting and remote monitoring.

Issuer:	USA Technologies, Inc.
Issue:	Stock
Amount:	$10 million
Shares:	1,666,667
Price:	$6.00
Warrants:	For 833,333 shares
Warrant expiration:	Six years
Warrant strike price:	$6.40
Investor:	S.A.C. Capital Associates, LLC
Settlement date:	March 14
Stock symbol:	OTCBB: USAT
Stock price:	$6.45 at close March 14

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