MALVERN, Pa.--(BUSINESS WIRE)--USA Technologies, Inc. (NASDAQ:USAT), a premier payment technology service provider of integrated cashless and mobile transactions in the self-service retail market, today announced the closing of its underwritten public offering of 6,330,449 shares of its common stock sold by USAT and 553,187 shares of its common stock sold by certain selling shareholders, at a public offering price of $11.00 per share. The foregoing included the full exercise of the underwriters’ option to purchase 897,866 additional shares from USAT. The gross proceeds generated from the offering, before deducting underwriting discounts and commissions and other offering expenses, was approximately $69.6 million to USAT and $6.1 million to the selling shareholders.

William Blair & Company, L.L.C. acted as the sole book-running manager, and Craig-Hallum Capital Group LLC, Northland Capital Markets, and Barrington Research Associates, Inc. acted as co-managers for the offering.

About USA Technologies

USA Technologies, Inc. is a premier payment technology service provider of integrated cashless and mobile transactions in the self-service retail market. The company also provides a broad line of cashless acceptance technologies including its NFC-ready ePort® G-series, ePort Mobile® for customers on the go, ePort® Interactive, and QuickConnect, an API Web service for developers. Through its recent acquisition of Cantaloupe Systems, Inc. (“Cantaloupe”), the company also offers logistics, dynamic route scheduling, automated pre-kitting, responsive merchandising, inventory management, warehouse and accounting management solutions. Cantaloupe is a premier provider of cloud and mobile solutions for vending, micro markets, and office coffee services.