USA Technologies Management and Board Focused on Driving Shareholder Returns
Summary
MALVERN, Pa.--(BUSINESS WIRE)--USA Technologies, Inc. (OTC: USAT) (“USAT” or the “Company”), a cashless payments and software services company that provides end-to-end technology solutions for the self-service retail market, today noted that Hudson Executive Capital LP (“Hudson”) has filed with the U.S. Securities and Exchange Commission (“SEC”) preliminary consent solicitation materials in order to solicit revocable consents to call a special meeting of shareholders to vote on various proposed amendments to the Company’s bylaws. The USA Technologies’ Board, in consultation with its legal advisors, is carefully reviewing Hudson’s preliminary consent materials and will communicate its recommendation to USAT shareholders in due course. Based on a preliminary review of Hudson’s materials, we note that three of the candidates named by Hudson formerly worked for J.P. Morgan Chase, where Hudson’s Founder and Managing Partner Douglas Braunstein served in a number of roles. As a result, customers ranging from vending machine companies, to operators of micro-markets, gas and car charging stations, laundromats, metered parking terminals, kiosks, amusements and more, can run their businesses more proactively, predictably, and competitively. When used in this release, words such as "anticipate", "believe", "estimate", "expect", "intend", and similar expressions, as they relate to USAT or its management, identify forward looking statements.