MALVERN, Pa.--(BUSINESS WIRE)--USA Technologies, Inc. (NASDAQ: USAT), today announced its official name change to Cantaloupe, Inc. (“Cantaloupe” or the “Company”) and its ticker symbol to “CTLP”. The Company begins trading on the Nasdaq Global Select Market, under both the new name and symbol today, and is celebrating its rebranding by ringing the Closing Bell. In addition, the Company’s Series A Convertible Preferred Stock begins trading on the OTC Markets Pink Open Market under the “CTLPP” ticker symbol.
The reimagined corporate identity is central to the Company’s vision to help the world buy it and go. Cantaloupe is firmly on a path to growth and industry leadership, defining how retailers can leverage technology to modernize and scale their business.
“Our launch as Cantaloupe represents the culmination of transformational change within the Company,” said Sean Feeney, CEO of Cantaloupe, Inc. “This new chapter will help us drive the industry forward; tapping new opportunities that create value for customers and other stakeholders. Propelled by the pandemic, retail has seen a significant shift in shopper expectation for an increasingly self-serve, safe and secure buying experience. With more than a million active devices we’re helping accelerate the adoption of ‘buy it and go’ shopping and digital payments, unlocking opportunities to build loyalty through personalization and optimize inventory management.”
Consumers now expect the extraordinary. They demand ultimate flexibility, information at their fingertips, along with assurance their personal information and privacy are secure. The adoption of frictionless shopping and digital payments has dramatically accelerated due to events over the past year. Companies are now able to leverage technology to deliver the utmost convenience to consumers and transform their retail operations.
Cantaloupe is a technology and payments company that gives its customers scale and flexibility in their retail value chain. The Company is uniquely placed to be a partner for businesses that don’t have the resources to put an employee at every point-of-sale, want to enable a self-service experience and need a solution to manage their procurement-to-cash workflow. From ePort to Seed, our end-to-end solution is designed to enhance what all retailers – from vending operators, to restaurants, and traditional brands – need to operate more efficiently, as well as what they can offer their customers, despite constantly changing trends and market demands.
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About Cantaloupe, Inc.
Cantaloupe, Inc. is a software and payments company that provides end-to-end technology solutions for the unattended retail market. USAT is transforming the unattended retail community by offering one integrated solution for payments processing, logistics, and back-office management. The Company’s enterprise-wide platform is designed to increase consumer engagement and sales revenue through digital payments, digital advertising and customer loyalty programs, while providing retailers with control and visibility over their operations and inventory. As a result, customers ranging from vending machine companies, to operators of micro-markets, gas and car charging stations, laundromats, metered parking terminals, kiosks, amusements and more, can run their businesses more proactively, predictably, and competitively.
All statements other than statements of historical fact included in this release, including without limitation Cantaloupe’s future prospects and performance, the business strategy and the plans and objectives of Cantaloupe's management for future operations, are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. When used in this release, words such as “may,” “could,” “expect,” “intend,” “plan,” “seek,” “anticipate,” “believe,” “estimate,” “guidance,” “predict,” “potential,” “continue,” “likely,” “will,” “would” and variations of these terms and similar expressions, or the negative of these terms or similar expressions, as they relate to Cantaloupe or its management, may identify forward-looking statements. Such forward-looking statements are based on the reasonable beliefs of Cantaloupe's management, as well as assumptions made by and information currently available to Cantaloupe's management. Actual results could differ materially from those contemplated by the forward-looking statements as a result of certain factors, including but not limited to the incurrence by Cantaloupe of any unanticipated or unusual non-operational expenses which would require us to divert our cash resources from achieving our business plan; the uncertainties associated with COVID-19, including its possible effects on Cantaloupe’s operations, financial condition and the demand for Cantaloupe’s products and services; the ability of Cantaloupe to predict or estimate its future quarterly or annual revenue and expenses given the developing and unpredictable market for its products; the ability of Cantaloupe to retain key customers from whom a significant portion of its revenues is derived; the ability of Cantaloupe to compete with its competitors to obtain market share; the ability of Cantaloupe to make available and successfully upgrade current customers to new standards and protocols; whether Cantaloupe's existing or anticipated customers purchase, rent or utilize ePort or Seed devices or our other products or services in the future at levels currently anticipated by Cantaloupe; disruptions to our systems, breaches in the security of transactions involving our products or services, or failure of our processing systems; or other risks discussed in Cantaloupe’s filings with the U.S. Securities and Exchange Commission, including but not limited to its Annual Report on Form 10-K for the year ended June 30, 2020 and its Quarterly Reports on Form 10-Q for the quarters ended September 30, 2020 and December 31, 2020. Readers are cautioned not to place undue reliance on these forward-looking statements. Any forward-looking statement made by us in this release speaks only as of the date of this release. Unless required by law, Cantaloupe does not undertake to release publicly any revisions to these forward-looking statements to reflect future events or circumstances or to reflect the occurrence of unanticipated events. If Cantaloupe updates one or more forward-looking statements, no inference should be drawn that Cantaloupe will make additional updates with respect to those or other forward-looking statements.