<SEC-DOCUMENT>0001140361-15-033410.txt : 20150825
<SEC-HEADER>0001140361-15-033410.hdr.sgml : 20150825
<ACCEPTANCE-DATETIME>20150825163855
ACCESSION NUMBER:		0001140361-15-033410
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20150819
ITEM INFORMATION:		Entry into a Material Definitive Agreement
FILED AS OF DATE:		20150825
DATE AS OF CHANGE:		20150825

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			USA TECHNOLOGIES INC
		CENTRAL INDEX KEY:			0000896429
		STANDARD INDUSTRIAL CLASSIFICATION:	CALCULATING & ACCOUNTING MACHINES (NO ELECTRONIC COMPUTERS) [3578]
		IRS NUMBER:				232679963
		STATE OF INCORPORATION:			PA
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-33365
		FILM NUMBER:		151073478

	BUSINESS ADDRESS:	
		STREET 1:		100 DEERFIELD LANE
		STREET 2:		SUITE 140
		CITY:			MALVERN
		STATE:			PA
		ZIP:			19355
		BUSINESS PHONE:		6109890340

	MAIL ADDRESS:	
		STREET 1:		100 DEERFIELD LANE
		STREET 2:		SUITE 140
		CITY:			MALVERN
		STATE:			PA
		ZIP:			19355

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	USA ENTERTAINMENT CENTER INC
		DATE OF NAME CHANGE:	19931029
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>form8k.htm
<DESCRIPTION>USA TECHNOLOGIES INC 8-K 8-19-2015
<TEXT>
<html>
<head>
<title></title>
<!--Licensed to: Summit Financial Printing LLC
    Document created using EDGARfilings PROfile 3.5.0.0
    Copyright 1995 - 2015 Summit Financial Printing, LLC.  All rights reserved.-->
</head>
<body style="FONT-FAMILY: Arial; FONT-SIZE: 9pt" bgcolor="#ffffff" text="#000000">
<div>
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman', serif; FONT-SIZE: 10pt">
<hr style="BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: center; BACKGROUND-COLOR: #ffffff; HEIGHT: 10px; COLOR: #ffffff; MARGIN-LEFT: auto; BORDER-TOP: black 4px solid; MARGIN-RIGHT: auto">
</div>

<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman', serif; FONT-SIZE: 10pt">&#160;</div>

<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman', serif; FONT-SIZE: 14pt">SECURITIES AND EXCHANGE COMMISSION</div>

<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman', serif; FONT-SIZE: 12pt">Washington, D.C. 20549</div>

<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman', serif; FONT-SIZE: 10pt">&#160;</div>

<div>
<hr style="TEXT-ALIGN: center; BACKGROUND-COLOR: #000000; WIDTH: 30%; HEIGHT: 2px; COLOR: #000000; MARGIN-LEFT: auto; MARGIN-RIGHT: auto" noshade="noshade">
</div>

<div>&#160;</div>

<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman', serif; FONT-SIZE: 18pt">FORM 8-K</div>

<div><br>
</div>

<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman', serif; FONT-SIZE: 10pt">Current Report Pursuant to Section 13 or 15(d) of</div>

<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman', serif; FONT-SIZE: 10pt">The Securities Exchange Act of 1934</div>

<div><br>
</div>

<div>
<hr style="TEXT-ALIGN: center; BACKGROUND-COLOR: #000000; WIDTH: 30%; HEIGHT: 2px; COLOR: #000000; MARGIN-LEFT: auto; MARGIN-RIGHT: auto" noshade="noshade">
<br>
</div>

<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman', serif; FONT-SIZE: 10pt">Date of report (Date of earliest event reported): August 19, 2015</div>

<div><br>
</div>

<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman', serif; FONT-SIZE: 24pt">USA TECHNOLOGIES, INC.</div>

<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman', serif; FONT-SIZE: 10pt">(Exact name of registrant as specified in its charter)</div>

<div><br>
</div>

<table style="WIDTH: 100%; BORDER-COLLAPSE: collapse; FONT-FAMILY: 'Times New Roman', serif; FONT-SIZE: 10pt" id="38cacdf1645f408f8895b0de4d4693e8" border="0" cellspacing="0" cellpadding="0">
<tr>
<td style="WIDTH: 33%; VERTICAL-ALIGN: top">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman', serif; FONT-SIZE: 10pt">Pennsylvania</div>
</td>
<td style="WIDTH: 34%; VERTICAL-ALIGN: top">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman', serif; FONT-SIZE: 10pt">001-33365</div>
</td>
<td style="WIDTH: 33%; VERTICAL-ALIGN: top">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman', serif; FONT-SIZE: 10pt">23&#8209;2679963</div>
</td>
</tr>

<tr>
<td style="WIDTH: 33%; VERTICAL-ALIGN: top">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman', serif; FONT-SIZE: 10pt">(State or other jurisdiction of incorporation or organization)</div>
</td>
<td style="WIDTH: 34%; VERTICAL-ALIGN: top">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman', serif; FONT-SIZE: 10pt">(Commission File Number)</div>
</td>
<td style="WIDTH: 33%; VERTICAL-ALIGN: top">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman', serif; FONT-SIZE: 10pt">(I.R.S. Employer Identification No.)</div>
</td>
</tr>
</table>

<div><br>
</div>

<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman', serif; FONT-SIZE: 10pt">100 Deerfield Lane, Suite 140</div>

<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman', serif; FONT-SIZE: 10pt">Malvern, Pennsylvania 19355</div>

<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman', serif; FONT-SIZE: 10pt">(Address of principal executive offices and zip code)</div>

<div><br>
</div>

<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman', serif; FONT-SIZE: 10pt">Registrant&#8217;s telephone number, including area code: 610-989-0340</div>

<div><br>
</div>

<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman', serif; FONT-SIZE: 10pt">n/a</div>

<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman', serif; FONT-SIZE: 10pt">Former name or former address, if changed since last report</div>

<div><br>
</div>

<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', serif; FONT-SIZE: 10pt">Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:</div>

<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', serif; FONT-SIZE: 10pt">&#160;</div>

<div style="TEXT-ALIGN: left">
<table style="WIDTH: 100%; FONT-FAMILY: 'Times New Roman', serif; FONT-SIZE: 10pt" id="81bfd5db2a8a4ed28454972bc9c64375" class="DSPFListTable" cellspacing="0" cellpadding="0">
<tr>
<td style="WIDTH: 9pt">&#160;</td>
<td style="WIDTH: 18pt; FONT-FAMILY: Wingdings; FONT-SIZE: 10pt; VERTICAL-ALIGN: top; align: right">q</td>
<td style="TEXT-ALIGN: left; WIDTH: auto; FONT-FAMILY: 'Times New Roman', serif; FONT-SIZE: 10pt; VERTICAL-ALIGN: top">Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)</td>
</tr>
</table>
</div>

<div><br>
</div>

<div style="TEXT-ALIGN: left">
<table style="WIDTH: 100%; FONT-FAMILY: 'Times New Roman', serif; FONT-SIZE: 10pt" id="22a82201b6904008ab992b18eb568730" class="DSPFListTable" cellspacing="0" cellpadding="0">
<tr>
<td style="WIDTH: 9pt">&#160;</td>
<td style="WIDTH: 18pt; FONT-FAMILY: Wingdings; FONT-SIZE: 10pt; VERTICAL-ALIGN: top; align: right">q</td>
<td style="TEXT-ALIGN: left; WIDTH: auto; FONT-FAMILY: 'Times New Roman', serif; FONT-SIZE: 10pt; VERTICAL-ALIGN: top">Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)</td>
</tr>
</table>
</div>

<div><br>
</div>

<div style="TEXT-ALIGN: left">
<table style="WIDTH: 100%; FONT-FAMILY: 'Times New Roman', serif; FONT-SIZE: 10pt" id="e34c4a2eafee4b86a29b2a7bc9fc304d" class="DSPFListTable" cellspacing="0" cellpadding="0">
<tr>
<td style="WIDTH: 9pt">&#160;</td>
<td style="WIDTH: 18pt; FONT-FAMILY: Wingdings; FONT-SIZE: 10pt; VERTICAL-ALIGN: top; align: right">q</td>
<td style="TEXT-ALIGN: left; WIDTH: auto; FONT-FAMILY: 'Times New Roman', serif; FONT-SIZE: 10pt; VERTICAL-ALIGN: top">Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))</td>
</tr>
</table>
</div>

<div><br>
</div>

<div style="TEXT-ALIGN: left">
<table style="WIDTH: 100%; FONT-FAMILY: 'Times New Roman', serif; FONT-SIZE: 10pt" id="7c54eacf94ac4d90b47e277fc657d77c" class="DSPFListTable" cellspacing="0" cellpadding="0">
<tr>
<td style="WIDTH: 9pt">&#160;</td>
<td style="WIDTH: 18pt; FONT-FAMILY: Wingdings; FONT-SIZE: 10pt; VERTICAL-ALIGN: top; align: right">q</td>
<td style="TEXT-ALIGN: left; WIDTH: auto; FONT-FAMILY: 'Times New Roman', serif; FONT-SIZE: 10pt; VERTICAL-ALIGN: top">Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))</td>
</tr>
</table>
</div>

<div style="TEXT-ALIGN: left">&#160;</div>

<div style="TEXT-ALIGN: left">
<hr style="BORDER-BOTTOM: black 4px solid; TEXT-ALIGN: center; BACKGROUND-COLOR: #ffffff; HEIGHT: 10px; COLOR: #ffffff; MARGIN-LEFT: auto; BORDER-TOP: black 1px solid; MARGIN-RIGHT: auto">
</div>

<div style="MARGIN-TOP: 10pt; MARGIN-BOTTOM: 10pt; CLEAR: both" id="DSPFPageBreakArea">
<div style="PAGE-BREAK-AFTER: always" id="DSPFPageBreak">
<hr style="BORDER-RIGHT-WIDTH: 0px; BACKGROUND-COLOR: #000000; MARGIN: 4px 0px; WIDTH: 100%; BORDER-TOP-WIDTH: 0px; BORDER-BOTTOM-WIDTH: 0px; HEIGHT: 2px; COLOR: #000000; CLEAR: both; BORDER-LEFT-WIDTH: 0px" noshade="noshade">
</div>
</div>

<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman', serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Item 1.01. Entry into a Material Definitive Agreement</div>

<div><br>
</div>

<div style="TEXT-ALIGN: justify; TEXT-INDENT: 36pt; FONT-FAMILY: 'Times New Roman', serif; FONT-SIZE: 10pt">On August 19, 2015, USA Technologies, Inc. (the &#8220;Company&#8221;), and Avidbank Corporate Finance, a division of Avidbank (the &#8220;Bank&#8221;), entered into a Fourteenth Amendment (the "Fourteenth Amendment&#8221;) to the Loan and Security Agreement dated as of June 21, 2012, as amended (collectively, the &#8220;Loan Agreement&#8221;).</div>

<div><br>
</div>

<div style="TEXT-ALIGN: justify; TEXT-INDENT: 36pt; FONT-FAMILY: 'Times New Roman', serif; FONT-SIZE: 10pt">The Loan Agreement provides for a secured asset-based revolving line of credit facility (the &#8220;Line of Credit&#8221;) of up to $7.0 million. The Fourteenth Amendment, among other things, extends the maturity date of the Line of Credit from August 17, 2015 until August 17, 2017, specifies the minimum Adjusted EBITDA (as defined in the Loan Agreement) that the Company must achieve during each quarter of the Company&#8217;s fiscal year ending June 30, 2016, and provides that the minimum Adjusted EBITDA that the Company must achieve for quarters subsequent to June 30, 2016 shall be in such amounts as may be mutually agreed upon by the Bank and the Company.</div>

<div><br>
</div>

<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman', serif; FONT-SIZE: 10pt">SIGNATURES</div>

<div><br>
</div>

<div style="TEXT-ALIGN: justify; TEXT-INDENT: 36pt; FONT-FAMILY: 'Times New Roman', serif; FONT-SIZE: 10pt">Pursuant to the Securities Exchange Act of 1934, the Company has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.</div>

<div><br>
</div>

<table style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; WIDTH: 100%; BORDER-COLLAPSE: collapse; FONT-FAMILY: 'Times New Roman', serif; FONT-SIZE: 10pt; BORDER-TOP: medium none; BORDER-RIGHT: medium none" id="ad65dd24584e408697a6c9ceff6a3de0" border="0" cellspacing="0" cellpadding="0">
<tr>
<td style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; WIDTH: 50%; VERTICAL-ALIGN: top; BORDER-TOP: medium none; BORDER-RIGHT: medium none">&#160;</td>
<td style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; VERTICAL-ALIGN: top; BORDER-TOP: medium none; BORDER-RIGHT: medium none" colspan="2">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', serif; FONT-SIZE: 10pt">USA TECHNOLOGIES, INC.</div>
</td>
</tr>

<tr>
<td style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; WIDTH: 50%; VERTICAL-ALIGN: top; BORDER-TOP: medium none; BORDER-RIGHT: medium none">&#160;</td>
<td style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; WIDTH: 5%; VERTICAL-ALIGN: top; BORDER-TOP: medium none; BORDER-RIGHT: medium none">&#160;</td>
<td style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; WIDTH: 45%; VERTICAL-ALIGN: top; BORDER-TOP: medium none; BORDER-RIGHT: medium none">&#160;</td>
</tr>

<tr>
<td style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; WIDTH: 50%; VERTICAL-ALIGN: top; BORDER-TOP: medium none; BORDER-RIGHT: medium none">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', serif; FONT-SIZE: 10pt">Dated: August 25, 2015</div>
</td>
<td style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; WIDTH: 5%; VERTICAL-ALIGN: top; BORDER-TOP: medium none; BORDER-RIGHT: medium none">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', serif; FONT-SIZE: 10pt">By:</div>
</td>
<td style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; WIDTH: 45%; VERTICAL-ALIGN: top; BORDER-TOP: medium none; BORDER-RIGHT: medium none">
<div style="TEXT-ALIGN: left; FONT-VARIANT: normal; FONT-STYLE: normal; FONT-FAMILY: 'Times New Roman', serif; FONT-SIZE: 10pt; FONT-WEIGHT: normal"><u>/s/ Stephen P. Herbert</u></div>

<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', serif; FONT-SIZE: 10pt">Stephen P. Herbert,</div>

<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', serif; FONT-SIZE: 10pt">Chairman and Chief Executive Officer</div>
</td>
</tr>
</table>

<div><br>
 &#160;</div>
</div>

<div>
<hr style="TEXT-ALIGN: center; BACKGROUND-COLOR: #000000; HEIGHT: 2px; COLOR: #000000; MARGIN-LEFT: auto; MARGIN-RIGHT: auto" noshade="noshade">
</div>
</body>
</html>

</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
