|By Business Wire||
|January 17, 2014 05:07 PM EST||
USA Technologies, Inc. (NASDAQ: USAT), (“USAT”), a leader of wireless, cashless payment and M2M telemetry solutions for small-ticket, self-serve retailing industries, today announced that it has received $2.2 million as a result of the exercise of 1,972,085 warrants during the quarter ended December 31, 2013.
Each warrant entitled the holder to purchase one share of common stock for $1.13. The warrants expired on December 31, 2013. Prior to expiration, the warrants traded on the NASDAQ Global Market under the symbol USATZ. An aggregate of 3,015,407 of these warrants had originally been issued by USAT. A total of 58,527 of these warrants were not exercised by the expiration date and have been cancelled. In accordance with the rules of the Securities and Exchange Commission, USAT has filed a post-effective amendment deregistering the 58,527 shares of common stock underlying the warrants which were not exercised prior to the expiration date.
About USA Technologies:
USA Technologies is a leader of wireless, cashless payment and M2M telemetry solutions for small-ticket, self-serve retailing industries. ePort Connect® is the company’s flagship service platform, a PCI-compliant, end-to-end suite of cashless payment and telemetry services specially tailored to fit the needs of small ticket, self-service retailing industries. USA Technologies also provides a broad line of cashless acceptance technologies including its NFC-ready ePort® G8, ePort Mobile™ for customers on the go, and QuickConnect™, an API Web service for developers. USA Technologies has been granted 87 patents; and has agreements with Verizon, Visa, Elavon and customers such as Compass, Crane, AMI Entertainment and others. Visit the website at www.usatech.com.