Business
Usio Announces Closing of $1 Million Strategic Investment by Premier Cryptocurrency Partner, Voyager Digital
SAN ANTONIO, Nov. 23, 2021 (GLOBE NEWSWIRE) -- Usio, Inc. (Nasdaq: USIO), a fintech integrated electronic payment solutions provider, today announced the
About this update from Usio, Inc.
[{"type":"text","content":"SAN ANTONIO, Nov. 23, 2021 (GLOBE NEWSWIRE) -- Usio, Inc. (Nasdaq: USIO), a fintech integrated electronic payment solutions provider, today announced the closing of a private placement of 142,857 shares of common stock, at a purchase price of $7.00, for net proceeds of $1 million. The shares were priced using a five-day weighted average at the market price with November 19th as the closing date. Usio intends to use the proceeds from the placement for working capital. Commenting on the closing, Louis Hoch, Usio’s CEO, said, “We are thrilled to have our strategic cryptocurrency partner, Voyager Digital, as a strategic investor in our company. While Usio is generating positive cash flow and we believe we are in a strong cash position, we are excited to have Voyager invest in our company since they are helping our company grow through their long-term exclusive agreements for our ACH and debit issuance card services, and by partnering with us to allow our merchants to accept cryptocurrencies as form of payment.” Stephen Ehrlich, CEO of Voyager (TSX: VOYG; OTCQX: VYGVF; FRA: UCD2), noted, “Our relationship with Usio has been a true partnership over the past three years. That will continue, as we have just extended our exclusive ACH and debit card issuance agreements for another three years. Usio has helped our company grow by allowing us to focus on our core competencies, while leaving the complexity of payment processing to Usio. For Voyager, the investment in Usio is strategic and demonstrates our commitment to the ongoing partnership and to our commitments to Usio’s growth plans. I am impressed by the quality of Usio’s business and the clarity of management’s vision for growth. We are delighted to provide capital to support that vision and join the company as a long-term, supportive shareholder.” This press release does not constitute an offer to sell or the solicitation of an offer to buy securities, nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such jurisdiction. The issuance of the shares of common stock was exempt from registration pursuant to the exemption contained in Section 4(a)(2) of the Securities Act of 1933, as amended, and Rule 506 of Regulation D, inasmuch as it ...