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Filing Details

Accession Number:: 0001567619-19-019663
Form Type:: 4
Zero Holdings:: No
Publication Time:: 2019-10-16 17:10:51
Reporting Period:: 2019-10-14

Accepted Time:: 2019-10-16 17:10:51
SEC Url:: Form 4 Filing

Issuer

Cik	Name	Symbol	Sector (SIC)	IRS No
896429	Usa Technologies Inc	USAT	Calculating & Accounting Machines (No Electronic Computers) (3578)	232679963

Insiders

Cik	Name	Reported Address	Director	Officer	Large Shareholder	Other
1495110	L Douglas Braunstein	570 Lexington Avenue, 35Th Floor New York NY 10022	No	No	Yes	No
1652522	Hudson Executive Capital Lp	570 Lexington Avenue, 35Th Floor New York NY 10022	No	No	Yes	No
1700567	Hec Management Gp Llc	570 Lexington Avenue, 35Th Floor New York NY 10022	No	No	Yes	No

Reported Non-Derivative Transactions

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Sec. Name	Acquisiton - Disposition	Date	Amount	Price	Remaning Holdings	Equity Swap Involved	Form Type	Code	Nature of Ownership	Explanation
Common Stock	Acquisiton	2019-10-14	80,000	$6.70	10,220,172	No	4	P	Indirect	See footnotes
Common Stock	Acquisiton	2019-10-16	165,000	$7.26	10,385,172	No	4	P	Indirect	See footnotes

Equity Swap Involved	Form Type	Code	Nature of Ownership	Explanation
No	4	P	Indirect	See footnotes
No	4	P	Indirect	See footnotes

Footnotes

The price reported in Column 4 is a weighted average price. These shares were acquired in transactions at prices ranging from $6.5800 to $7.0000, inclusive. The Reporting Persons (defined below) undertake to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission (the "SEC"), upon request, full information regarding the number of shares acquired at each separate price within the range set forth in footnote (1) to this Form 4.
In addition to Hudson Executive Capital LP, a Delaware limited partnership ("Hudson Executive"), this Form 4 is being filed jointly by HEC Management GP LLC, a Delaware limited liability company ("Management GP"), and Douglas L. Braunstein, a citizen of the United States of America (together with Hudson Executive and Management GP, the "Reporting Persons"), each of whom has the same business address as Hudson Executive and may be deemed to have a pecuniary interest in the securities reported on this Form 4 (the "Subject Securities").
Hudson Executive, as the investment adviser to certain affiliated investment funds, may be deemed to be the beneficial owner of the Subject Securities for purposes of Rule 16a-1(a) under the Securities Exchange Act of 1934. Management GP, as the general partner of Hudson Executive, may be deemed to be the beneficial owner of the Subject Securities for purposes of Rule 16a-1(a). By virtue of Mr. Braunstein's position as Managing Partner of Hudson Executive and Managing Member of Management GP, Mr. Braunstein may be deemed to be the beneficial owner of the Subject Securities for purposes of Rule 16a-1(a).
Each of the Reporting Persons disclaims any beneficial ownership of any of the Subject Securities, except to the extent of any pecuniary interest therein.
The price reported in Column 4 is a weighted average price. These shares were acquired in transactions at prices ranging from $7.2500 to $7.3000, inclusive. The Reporting Persons undertake to provide to the Issuer, any security holder of the Issuer, or the staff of the SEC, upon request, full information regarding the number of shares acquired at each separate price within the range set forth in footnote (5) to this Form 4.