USA Technologies secures $43m from public offering

Payment solutions provider USA Technologies has secured just over $43m for its underwritten public offering.

The company issued just under 10 million shares for sale at $4.50 per share.

USA Technologies is a payment technology service provider for integrated cashless and mobile transactions for the self-service retail sector. The company offers a range of e-payment options, machine-to-machine services and telemetry solutions.

Through its platform, users can monitor, control and report results of distributed assets. The company also offers a loyalty reward programme for consumers to help boost loyalty and return customers.

Craig-Hallum Capital Group, Northland Capital Markets and Barrington Research Associates served as the co-managers for this offering.

The company help a previous IPO in 2011, where it raised $10.73m, which brings the company’s total funding to $53.83m.

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