USA Technologies Inc. (Nasdaq: USAT) today announced its official name change to Cantaloupe Inc. and its ticker symbol to “CTLP.”
The company said the reimagined corporate identity is central to its vision to help the world buy it and go. (View Image Gallery to see infographics illustrating Cantaloupe's vision.)
On April 19, the unattended retail technology company begins trading on the Nasdaq Global Select Market under the new name and symbol. Cantaloupe is celebrating historic launch by ringing the Nasdaq’s closing bell today.
As part of the transition, the company’s series A convertible preferred stock begins trading on the OTC Markets Pink Open Market under the “CTLPP” ticker symbol.
In its announcement, Cantaloupe stated that it is firmly on a path to growth and industry leadership, defining how retailers can leverage technology to modernize and scale their businesses.
“Our launch as Cantaloupe represents the culmination of transformational change within the company,” said Cantaloupe chief executive Sean Feeney. “This new chapter will help us drive the industry forward; tapping new opportunities that create value for customers and other stakeholders.
According to Feeney, Cantaloupe has more than 1 million active devices that it will help “accelerate the adoption of ‘buy-it-and-go’ shopping and digital payments, unlock opportunities to build loyalty through personalization and optimize inventory management.”
The significant shift in shopper expectations for increasingly self-serve, safe and secure buying experiences has been propelled by the pandemic, the chief executive observed.
Among Cantaloupe’s main products are ePort cashless payment systems and Seed vending management software. USA Technologies acquired Cantaloupe Systems in November 2017. Cantaloupe is headquartered in Malvern, PA, and online at cantaloupe.com.
