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TransAct Technologies prices stock offer, to raise $10.6 million


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.

Sharon Singleton
Sharon Singleton
Sharon Singleton is a multi-media reporter with experience ranging from website management to reporting and editing for newspapers, news agencies and television. As Managing Editor she's been working with Asia Gaming Brief since 2013 and her specialties are: Business, current affairs, fluent in Italian, French, with working knowledge of Spanish.