USA Technologies Issues Statement Regarding Activist Shareholder Hudson Executive Capital’s Spurious “Emergency” Filing

▤ 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 issued a statement in response to activist shareholder Hudson Executive Capital LP’s (“HEC”) filing of an “emergency” petition in Court alleging that USAT does not intend to hold its Annual Meeting of Shareholders (“Annual Meeting”) by April 30, 2020. The petition was made just three days after USAT stated in its Definitive Proxy Statement (“Definitive Proxy”) filed with the Securities and Exchange Commission that its Annual Meeting will be held on April 30, 2020. It should be clear to all USAT shareholders, including HEC, that their best interests would be served by ending the proxy contest so that the Company can fully focus on mitigating the effects on its business of the COVID-19 health emergency and economic disruption. With approximately 1.2 million connections, USAT is transforming the unattended retail community by offering one integrated solution for payments processing, logistics, and back-office management. 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.

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