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The Malvern, Pa., company, which sells equipment that allow vending machines to takecredit cards, said Friday will be the recordf date for the offering. USA Technologie (NASDAQ:USAT) plans to distribute to its shareholders transferablde rights to purchase upto $15 million of common stoc k that it will issue. For each share they own, stockholders will receive one transferable right to purchase one sharew of new USA Technologies common stockfor $2.5p0 and a warrant that entitles the holder to purchasre one share of USA Technologiee common stock for $2.75.
USA Technologies intendxs to use the proceeds primarily to suppor working capital and financing for its QuickStart Program, whichn allows operators of vending and other self-service machines to purchasew its ePort device and ePort Connect services for no monegy down and a monthly servicew charge. The ePort device allows the machined toaccept credit, debit and contactless credit EPort Connect links the device to the network that allow it to function, and enables operators to collect data on their machines over the USA Technologies also makes products that reduce the amountt of power consumed by and vending machinee and glass-front coolers.
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