🔒
Price chart and 15 days of daily prices
Candlestick chart with moving averages, Bollinger bands and MACD.
Register free to view.
Security Details
- Coupon Rate
- 15.00%
- Liquidation Preference
- $10.00
- Call Price
- $11.00
- Call / Redemption Date
- 1/1/1998
- Maturity Date
- None
- Distribution Period
- S
- Rate Type
- Fixed
- Annual Distribution
- 1.50
- Distribution Dates
- 2/1 & 8/1
- Credit Ratings
- Moody's NF · S&P NF (4/21/2024)
- Conversion
- 100 @ $1000
- Tax-Advantaged Dividends
- Yes
Security Profile
Security's distribution is suspended.
Security has been called for May 6, 2026.
- CUSIP
- 138103205 (prev. 90328S203 )
- Market Cap
- Micro Cap
- Previous Symbol
- USATP (changed 4/15/2021)
- Previous Name
- USA Technologies Inc
- Parent Company
- Cantaloupe, Inc. (CTLP*)
Business: Cantaloupe, Inc. formerly, USA Technologies Inc., Convertible Preferred Stock Series A, liquidation preference $10.00 per share, redeemable at the company's option on of after 1/01/1998 at $11.00 per share plus accrued and unpaid dividends. Distributions of $1.50 (15%) per annum are payable semi-annually on 2/1 & 8/1. Cumulative unpaid dividends are convertible into common shares at the holder's option at $1000.00 per share (after the 1 for 100 reverse stock split of 2/7/2006). Convertible any time at the holder's option into one share of common stock, an initial conversion rate of $1000.00 per share. Each convertible share is entitled to 1/100 vote. Dividends paid by this preferred security are eligible for the preferential income tax rate of 15% to a maximum of 20% depending on the holder's tax bracket (and under IRS specified holding restrictions) and are also eligible for the dividends received deduction for corporate holders.
Notes: From the 10-K report filed with the SEC on 9/28/2006 -- We do not expect to pay cash dividends in the foreseeable future and therefore investors should not anticipate cash dividends on their investment. The holders of our common stock and series A preferred stock are entitled to receive dividends when, and if, declared by our board of directors. Our board of directors does not intend to pay cash dividends in the foreseeable future, but instead intends to retain any and all earnings to finance the growth of the business. To date, we have not paid any cash dividends on the common stock or series A preferred stock and there can be no assurance that cash dividends will ever be paid on the common stock. In addition, our articles of incorporation prohibit the declaration of any dividends on the Common Stock unless and until all unpaid and accumulated dividends on the Series A preferred stock have been declared and paid. Through June 30, 2006, the unpaid and cumulative dividends on the series A preferred stock equal $8,226,261. The unpaid and cumulative dividends on the series A preferred stock are convertible into shares of common stock at the rate of $1000 per share at the option of the shareholder. Through June 30, 2006, $2,702,764 of unpaid and cumulative dividends on the Series A Preferred Stock were converted into 2,903 shares of common stock. __________ On February 7, 2006, our shareholders approved a 1-for-100 reverse stock split of our Common Stock. The effective date of the reverse stock split was February 17, 2006. On the effective date of the reverse stock split, (i) each 100 shares of outstanding Common Stock was reduced to one share of Common Stock; (ii) the number of shares of Common Stock into which each outstanding warrant, or option is exercisable was proportionately reduced on a 100-to-1 basis; (iii) the exercise price of each outstanding warrant, or option was proportionately increased on a 1-to-100 basis; (iv) the number of shares of Common Stock into which each share of Series A Preferred Stock is convertible was reduced from 1 share to one-hundredth of a share, and each share is entitled to one-hundredth of a vote rather than one vote per share as previously provided; (v) the conversion rate of the accrued and unpaid dividends on the Series A Preferred Stock was increased from $10.00 to $1,000.00 per share of Common Stock; (vi) and the conversion price of each convertible senior note proportionately increased on a 1-to-100 basis, and the number of shares into which each convertible senior note would be convertible was decreased on a 100-to-1 basis.
Company Contact
- CEO
- Ravi Venkatesan
- CFO
- Scott Stewart
- Headquarters
- 100 Deerfield Lane, Suite 140, Malvern, PA 19355
- Phone
- 610-989-0340
- Fax
- 610-989-0344
- Investor Relations
- 610-989-0340 · InvestorRelations@cantaloupe.com