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TransAct to raise additional funds through public stock offering


TransAct Technologies Incorporated, has announced that it intends to offer newly issued shares of its common stock in an underwritten public offering. 

The company also plans to grant to the underwriters of the offering a 30-day option to purchase up to an additional 15 percent of the shares of common stock offered in the underwritten public offering on the same terms and conditions.

TransAct said it intends to use the net proceeds from the offering for working capital and other general corporate purposes, including funding of  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.

Roth Capital Partners will be acting as the sole book-running manager for the offering, and Craig-Hallum Capital Group is acting as co-manager for the offering. 

Last week, TransAct released its 2Q21 results, reporting broad-based recovery across its markets in the second quarter of 2021, due largely to U.S. domestic reopenings. 

Company release

Felix Ng
Felix Ng
Felix is the Asia Editor and Events Director of the Asia Gaming Brief. He has over a decade of experience developing conferences for industries including gaming, telecoms, investment, biotechnology, and mining. Felix covers gaming technology and innovation and is passionate about developing engaging and eye-catching content for the industry.