TransAct Technologies prices stock offer, to raise $10.6 million

Transact Technologies

Transact Technologies said it expects to raise $10.6 million before expenses from an issue of new shares, which it will use for working capital and to fund further expansion.

The company said it priced its previously announced offer of 732,500 new shares at $14.50 each. Underwriters have an option of an additional 109,875 shares to cover overallotments.

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.