TransAct completes US$11mln offer of new shares

Aug 17, 2021 Newsdesk Industry Talk, Latest News  

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TransAct Technologies Inc, a provider of slot machine printers and player management software for the casino industry, said in a Monday statement it had completed a US$10.6-million public offering of its common stock.

The company is also a supplier of food safety monitoring systems.

TransAct reiterated in its Monday announcement that it would use the net proceeds from the new-share offer for working capital and other general corporate purposes. That may include “funding the further development of TransAct’s food service technology business and related sales, marketing and product development efforts, technology improvements and personnel costs in support of TransAct’s growth strategy”.

In early August, TransAct reported its food service technology sales in the second quarter rose 155.3 percent year-on-year and 11.9 percent sequentially, to nearly US$3.1 million, benefitting from demand for TransAct’s food-inventory monitoring and food-service tracking system known as Boha.

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