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2019-10-10 00:27:54

USA Technologies (OTC:USAT) has reached a $50M financing commitment via Antara Capital Master Fund.

It's received $20M in equity financing and entered a $30M senior secured debt financing commitment with Antara, which purchased 2.8M shares of common stock at $5.25/share for the equity portion.

USA Tech will draw $15M of the term facility concurrent with execution of the loan documentation, and will draw the remaining $15M between nine and 18 months from execution.

Those draws will bear interest at 9.75% per annum.

Shares are down 0.6% after hours.

seekingalpha.com Jason Aycock
financing commitment technologies seekingalpha https antara equity comnews3504876 entered draw received fund

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