USA Technologies Announces $50 Million Financing Commitment
USA TECHNOLOGIES (USAT)
Last usa technologies earnings: 2/18 07:30 pm
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US:NASDAQ Investor Relations:
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Source: Business Wire
MALVERN, Pa.--(BUSINESS WIRE)--USA Technologies, Inc. (OTC: USAT) (the “Company”), a cashless payments and software services company that provides end-to-end technology solutions for the self-service retail market, today announced that it received $20 million in equity financing from, and entered into a $30 million senior secured debt financing commitment with, Antara Capital Master Fund LP (“Antara”). Proceeds from the equity investment will be used to support USAT’s operating activities.Under the terms of the agreement, Antara purchased 3.8 million shares of common stock of the Company at $5.25 per share resulting in gross proceeds of approximately $20 million. In addition, Antara has committed to provide the Company with a $30 million senior secured debt facility subject to certain conditions, including completion of agreed upon loan documentation. The debt commitment provides that the Company would draw down $15 million of the $30 million debt facility at the time of completio
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