May 13, 2010 (FinancialWire) — USA Technologies, Inc. (NASDAQ: USAT) said that it has closed on a public offering of around $2.47 million through the sale of common stock and related warrants at a price of $0.90.

The firm issued 2,753,454 shares of common stock and 2,753,454 warrants to purchase shares of common stock in connection with the offering. The warrants have a December 31, 2013 expiration date and represent the right to purchase one share of common stock at a purchase price of $1.13 per share beginning on January 1, 2011.

The warrants will trade on the NASDAQ Global Market under the symbol “USATZ”.

USA Technologies raised around $2.28 million in net proceeds after deducting fees and expenses. The company said it plans to use the net proceeds of the offering for general corporate purposes, including working capital and providing financing for the manufacture of its e-Port cashless payment products for its Jump Start Program.

Pennsylvania-based USA Technologies offers networking of wireless non-cash transactions, associated financial/network services and energy management. USA Technologies provides networked credit card and other non-cash systems in the vending, commercial laundry, hospitality and digital imaging industries.

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