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BY HEMANTH AT 2:57AM ET -
TransAct Technologies Incorporated [TACT] a global leader in software-driven technology and printing solutions for high-growth markets, today announced that it intends to offer newly issued shares of its common stock in an underwritten public offering. TransAct also expects to grant to the underwriters of the offering a 30-day option to purchase up to an additional 15% of the shares of common stock offered in the underwritten public offering on the same terms and conditions.
Roth Capital Partners is acting as the sole book-running manager for the offering, and Craig-Hallum Capital Group is acting as co-manager for the offering. The offering is subject to market and other conditions, and there can be no assurance as to whether or when the offering may be completed, or as to the size or terms of 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 Trans Act’s food service technology business and related sales, marketing and product development efforts, technology improvements and personnel costs in support of Trans Act’s growth strategy.
A shelf registration statement relating to the shares of common stock to be issued in the proposed offering was filed with the Securities and Exchange Commission (the “SEC”)on August 17, 2020 and is effective. This press release shall not constitute an offer to sell or the solicitation of an offer to buy anyof the securities described herein, nor shall there be any sale of these securities in any state or jurisdiction in which such offer,solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.Copies of the preliminary prospectus supplement and accompanying prospectus will be filed with the SEC and, when available, may be obtained from Roth Capital Partners, LLC, 888 San Clemente, Suite 400, Newport Beach, CA 92660, by email at rothecm@roth.com or by telephone at(800) 678-9147, or by accessing the SEC’s website, www.sec.gov.