Wednesday, May 23, 2018 8:44:09 AM
This dilution/equity raise is in line with their emerging acquisition strategy. They've proven they can bolt on accretive synergistic businesses to grow the top and bottom lines. Not to mention the market enthusiasm.
USA Technologies announces pricing of public offering; Shares down 4.2%
May 23, 2018 8:27 AM ET|About: USA Technologies, Inc. (USAT)|By: Niloofer Shaikh, SA News Editor
USA Technologies (NASDAQ:USAT) priced its underwritten public offering of 5,432,583 shares o be sold by the company and 553,187 shares of its common stock to be sold by certain selling shareholders, at a public offering price of $11.00 per share.
The gross proceeds to the company are expected to be ~$59.76M.
The underwriter greenshoe option is of 897,866 shares.
The offering is expected to close on May 25.
William Blair & Company, L.L.C. is acting as the sole book-running manager.
USAT -4.24% premarket.
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