HAMDEN, Conn.–(BUSINESS WIRE)–TransAct Technologies Incorporated (Nasdaq: TACT), a global leader in software-driven technology and printing solutions for high-growth markets, today announced the pricing of an underwritten public offering of 732,500 newly issued shares of its common stock at a price of $14.50 per share. The proceeds to the Company from the offering are expected to be approximately $10.6] million before deducting underwriting discounts and commissions and estimated offering expenses payable by the Company. TransAct has also granted to the underwriters of the offering a 30-day option to purchase an additional 109,875 shares of common stock to cover overallotments in connection with the offering. The offering is expected to close on August 16, 2021, subject to customary closing conditions.
Roth Capital Partners is acting as the sole book-running manager for the offering, and Craig-Hallum Capital Group and Barrington Research Associates, Inc. are acting as co-managers for the offering.
TransAct intends to use the net proceeds from the offering for working capital and other general corporate purposes, which may include funding the further development of TransAct’s food service technology business and related sales, marketing and product development efforts, technology improvements and personnel costs in support of TransAct’s growth strategy.
About TransAct Technologies Incorporated
TransAct Technologies Incorporated is a global leader in developing software-driven technology and printing solutions for high-growth markets including food service, casino and gaming, POS automation, and oil and gas. The Company’s solutions are designed from the ground up based on customer requirements and are sold under the BOHA! ™, AccuDate™, EPICENTRAL®, Epic, Ithaca® and Printrex® brands. TransAct has sold over 3.5 million printers, terminals and other hardware devices around the world and is committed to providing world-class service, spare parts and accessories to support its installed product base. Through the TransAct Services Group, the Company also provides customers with a complete range of supplies and consumable items both online at http://www.transactsupplies.com and through its direct sales team. TransAct is headquartered in Hamden, CT. For more information, please visit http://www.transact-tech.com
