USA Technologies calls all outstanding convertible senior notes

By Laura Lutz

Des Moines, Jan. 4 - USA Technologies Inc. redeemed all of its $4,341,121 principal amount of convertible senior notes in December.

The company prepaid the notes with proceeds from its previously reported $8.4 million private placement.

The notes carried interest rates of 10% and 12% and were scheduled to mature on June 30, Dec. 30, 2007 and Dec. 31, 2008.

The company expects the early repayment to save about $500,000 in 2007.

Based in Malvern, Pa., USA provides networked credit card and non-cash systems to the vending, commercial laundry, hospitality and digital imaging sectors.

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