-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, ClrDT+EWI4Rxgt6r8WU1yioTOJRql94YSp+FyzrJavgmMqIIQuzKzp6ae8O8gJgv un5FZnLtAT2bb1lsec7ubg== 0000899140-10-000157.txt : 20100216 0000899140-10-000157.hdr.sgml : 20100215 20100216160616 ACCESSION NUMBER: 0000899140-10-000157 CONFORMED SUBMISSION TYPE: SC 13G/A PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 20100216 DATE AS OF CHANGE: 20100216 GROUP MEMBERS: S.A.C. CAPITAL ADVISORS, INC. GROUP MEMBERS: S.A.C. CAPITAL ASSOCIATES, LLC GROUP MEMBERS: STEVEN A. COHEN SUBJECT COMPANY: 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: 0630 FILING VALUES: FORM TYPE: SC 13G/A SEC ACT: 1934 Act SEC FILE NUMBER: 005-79579 FILM NUMBER: 10607662 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 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: SAC Capital Advisors LP CENTRAL INDEX KEY: 0001451928 IRS NUMBER: 943448715 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13G/A BUSINESS ADDRESS: STREET 1: 72 CUMMINGS POINT ROAD CITY: STAMFORD STATE: CT ZIP: 06902 BUSINESS PHONE: 2038902000 MAIL ADDRESS: STREET 1: 72 CUMMINGS POINT ROAD CITY: STAMFORD STATE: CT ZIP: 06902 SC 13G/A 1 u5412489.htm THIRD AMENDMENT

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

SCHEDULE 13G

 

Under the Securities Exchange Act of 1934

(Amendment No. 3)*

 

USA TECHNOLOGIES, INC.

(Name of Issuer)

 

Common Stock, No Par Value

(Title of Class of Securities)

 

90328S500

(CUSIP Number)

 

December 31, 2009  

(Date of Event which Requires Filing

of this Statement)

 

 

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

 

 

o

 Rule 13d-1(b)

 

x  Rule 13d-1(c)

 

o

 Rule 13d-1(d)

 

 

*The remainder of this cover page shall be filled out for a reporting person's initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter the disclosures provided in a prior cover page.

 

The information required on the remainder of this cover page shall not be deemed to be “filed” for the purpose of Section 18 of the Securities Exchange Act of 1934 (“Act”) or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).

 

Page 1 of 10

 


 

 

 

CUSIP No. 90328S500

13G

Page 2 of 10 Pages

 

1

NAME OF REPORTING PERSON

I.R.S. IDENTIFICATION NO. OF ABOVE PERSON

 

S.A.C. Capital Advisors, L.P.

2

CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*

(a) [    ]

(b) [ X ]

 

3

SEC USE ONLY

4

CITIZENSHIP OR PLACE OF ORGANIZATION

 

Delaware

NUMBER OF
SHARES
BENEFICIALLY
OWNED

BY
EACH
REPORTING
PERSON

WITH

5

SOLE VOTING POWER

 

0

6

SHARED VOTING POWER

 

2,305,826 (1) (see Item 4)

7

SOLE DISPOSITIVE POWER

 

0

8

SHARED DISPOSITIVE POWER

 

2,305,826 (1) (see Item 4)

9

AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

 

2,305,826 (1) (see Item 4)

10

CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES

[   ]

 

11

PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)

 

9.99% (1) (see Item 4)

12

TYPE OF REPORTING PERSON*

 

PN

*SEE INSTRUCTION BEFORE FILLING OUT

 

Page 2 of 10


 

CUSIP No. 90328S500

13G

Page 3 of 10 Pages

 

1

NAME OF REPORTING PERSON

I.R.S. IDENTIFICATION NO. OF ABOVE PERSON

 

S.A.C. Capital Advisors, Inc.

2

CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*

(a) [    ]

(b) [ X ]

3

SEC USE ONLY

4

CITIZENSHIP OR PLACE OF ORGANIZATION

 

Delaware

NUMBER OF
SHARES
BENEFICIALLY
OWNED

BY
EACH
REPORTING
PERSON

WITH

5

SOLE VOTING POWER

 

0

6

SHARED VOTING POWER

 

2,305,826 (1) (see Item 4)

7

SOLE DISPOSITIVE POWER

 

0

8

SHARED DISPOSITIVE POWER

 

2,305,826 (1) (see Item 4)

9

AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

 

2,305,826 (1) (see Item 4)

10

CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES

[   ]

 

11

PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)

 

9.99% (1) (see Item 4)

12

TYPE OF REPORTING PERSON*

 

CO

*SEE INSTRUCTION BEFORE FILLING OUT

 

Page 3 of 10

 


 

 

CUSIP No. 90328S500

13G

Page 4 of 10 Pages

 

1

NAME OF REPORTING PERSON

I.R.S. IDENTIFICATION NO. OF ABOVE PERSON

 

S.A.C. Capital Associates, LLC

2

CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*

(a) [    ]

(b) [ X ]

3

SEC USE ONLY

4

CITIZENSHIP OR PLACE OF ORGANIZATION

 

Anguilla, British West Indies

NUMBER OF
SHARES
BENEFICIALLY
OWNED

BY
EACH
REPORTING
PERSON

WITH

5

SOLE VOTING POWER

 

0

6

SHARED VOTING POWER

 

2,305,826 (1) (see Item 4)

7

SOLE DISPOSITIVE POWER

 

0

8

SHARED DISPOSITIVE POWER

 

2,305,826 (1) (see Item 4)

9

AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

 

2,305,826 (1) (see Item 4)

10

CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES

[   ]

 

11

PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)

 

9.99% (1) (see Item 4)

12

TYPE OF REPORTING PERSON*

 

00

                                               *SEE INSTRUCTION BEFORE FILLING OUT

 

           Page 4 of 10


 

 

CUSIP No.90328S500

13G

Page 5 of 10 Pages

 

1

NAME OF REPORTING PERSON

I.R.S. IDENTIFICATION NO. OF ABOVE PERSON

 

Steven A. Cohen

2

CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*

(a) [    ]

(b) [ X ]

3

SEC USE ONLY

4

CITIZENSHIP OR PLACE OF ORGANIZATION

 

United States

NUMBER OF
SHARES
BENEFICIALLY
OWNED

BY
EACH
REPORTING
PERSON

WITH

5

SOLE VOTING POWER

 

0

6

SHARED VOTING POWER

 

2,305,826 (1) (see Item 4)

7

SOLE DISPOSITIVE POWER

 

0

8

SHARED DISPOSITIVE POWER

 

2,305,826 (1) (see Item 4)

9

AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

 

2,305,826 (1) (see Item 4)

10

CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES

[ ]

 

11

PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)

 

9.99% (1) (see Item 4)

12

TYPE OF REPORTING PERSON*

 

IN

                                               *SEE INSTRUCTION BEFORE FILLING OUT

                                   Page 5 of 10


 

Item 1(a)

Name of Issuer:

 

 

USA Technologies, Inc.

 

Item 1(b)

Address of Issuer's Principal Executive Offices:

 

 

100 Deerfield Lane, Suite 140, Malvern, PA 19355

 

Items 2(a)

Name of Person Filing:

 

This statement is filed by: (i) S.A.C. Capital Advisors, L.P. (“SAC Capital Advisors”) with respect to shares of Common Stock, no par value per share (“Shares”) of the Issuer beneficially owned by S.A.C. Capital Associates, LLC (“SAC Capital Associates”); (ii) S.A.C. Capital Advisors, Inc. (“SAC Capital Advisors Inc.”) with respect to Shares beneficially owned by SAC Capital Advisors LP and SAC Capital Associates; (iii) SAC Capital Associates with respect to shares beneficially owned by it; and (iv) Steven A. Cohen with respect to Shares beneficially owned by SAC Capital Advisors LP, SAC Capital Advisors Inc. and SAC Capital Associates.

 

Item 2(b)

Address of Principal Business Office:

The address of the principal business office of (i) SAC Capital Advisors LP, SAC Capital Advisors Inc. and Mr. Cohen is 72 Cummings Point Road, Stamford, Connecticut 06902; and (ii) SAC Capital Associates is P.O. Box 58, Victoria House, The Valley, Anguilla, British West Indies.

 

Item 2(c)

Citizenship:

 

SAC Capital Advisors LP is a Delaware limited partnership. SAC Capital Advisors Inc. is a Delaware corporation. SAC Capital Associates is an Anguillan limited liability company. Mr. Cohen is a United States citizen.

 

Item 2(d)

Title of Class of Securities:

 

Common Stock, no par value

 

Item 2(e)

CUSIP Number:

 

 

90328S500

 

Item 3

Not Applicable

 
 
Page 6 of 10

 

Item 4

Ownership:

 

The percentages used herein are calculated based upon the Shares issued and outstanding as of  November 5, 2009 as reported on the Issuer's quarterly report on Form 10-Q filed with the Securities and Exchange Commission by the Issuer for the quarterly period ended September 30, 2009.

 

As of the close of business on December 31, 2009:

 

1. S.A.C. Capital Advisors, L.P.

(a) Amount beneficially owned: 2,305,826 (1)

(b) Percent of class: 9.99% (1)

(c)(i) Sole power to vote or direct the vote: -0-

(ii) Shared power to vote or direct the vote: 2,305,826 (1)

(iii) Sole power to dispose or direct the disposition: -0-

(iv) Shared power to dispose or direct the disposition: 2,305,826 (1)

 

2. S.A.C. Capital Advisors, Inc.

(a) Amount beneficially owned: 2,305,826 (1)

(b) Percent of class: 9.99% (1)

(c)(i) Sole power to vote or direct the vote: -0-

(ii) Shared power to vote or direct the vote: 2,305,826 (1)

(iii) Sole power to dispose or direct the disposition: -0-

(iv) Shared power to dispose or direct the disposition: 2,305,826 (1)

 

3. S.A.C. Capital Associates, LLC

(a) Amount beneficially owned: 2,305,826 (1)

(b) Percent of class: 9.99% (1)

(c)(i) Sole power to vote or direct the vote: -0-

(ii) Shared power to vote or direct the vote: 2,305,826 (1)

(iii) Sole power to dispose or direct the disposition: -0-

(iv) Shared power to dispose or direct the disposition: 2,305,826 (1)

 

4. Steven A. Cohen

(a) Amount beneficially owned: 2,305,826 (1)

(b) Percent of class: 9.99% (1)

(c)(i) Sole power to vote or direct the vote: -0-

(ii) Shared power to vote or direct the vote: 2,305,826 (1)

(iii) Sole power to dispose or direct the disposition: -0-

(iv) Shared power to dispose or direct the disposition: 2,305,826 (1)

 

(1) Pursuant to a Securities Purchase Agreement between the Issuer and SAC Capital Associates, dated March 14, 2007, the Issuer issued a warrant to SAC Capital Associates

Page 7 of 10


 to purchase up to 833,333 Shares at an exercise price of $6.40 per share (the “Warrant”). The Warrant was subsequently amended to provide for the purchase of up to 903,955 Shares at an exercise price of $5.90 per share. The Warrant contains certain restrictions on its exercise, including an issuance limitation prohibiting the holder and its affiliates from exercising the Warrant to the extent that such exercise would result in the beneficial ownership by such holder and its affiliates of more than 9.99% of the number of Shares outstanding immediately after giving effect to the issuance of shares upon exercise of the Warrant (the “Blocker”).

If the Blocker were not in place, as of the date hereof, SAC Capital Associates may be deemed to own 2,854,381 Shares (representing 1,950,426 Shares and the Warrant exercisable for 903,955 Shares) issuable upon the exercise of the Warrant (constituting approximately 12.1% of the Shares outstanding). The Shares reported in this Schedule 13G do not include the 548,555 Shares (of the 903,955 Shares) that are not currently exercisable by SAC Capital Associates pursuant to the Blocker.

SAC Capital Advisors LP, SAC Capital Advisors Inc. and Mr. Cohen own directly no Shares. Pursuant to an investment management agreement, SAC Capital Advisors LP maintains investment and voting power with respect to the securities held by SAC Capital Associates. SAC Capital Advisors Inc. is the general partner of SAC Capital Advisors LP. Mr. Cohen controls SAC Capital Advisors Inc. As of December 31, 2009, by reason of the provisions of Rule 13d-3 of the Securities Exchange Act of 1934, as amended, each of SAC Capital Advisors LP, SAC Capital Advisors Inc. and Mr. Cohen may be deemed to beneficially own 2,305,826 (1) Shares (constituting approximately 9.99% (1) of the Shares outstanding). Each of SAC Capital Advisors LP, SAC Capital Advisors Inc. and Mr. Cohen disclaim beneficial ownership of any of the securities covered by this statement.

 

Item 5

Ownership of Five Percent or Less of a Class:

 

If this statement is being filed to report the fact that as of the date hereof the reporting person has ceased to be the beneficial owner of more than five percent of the class of securities, check the

 

following. [

]

 

Item 6

Ownership of More than Five Percent on Behalf of Another Person:

 

Not Applicable

 

Page 8 of 10


 

Item 7

Identification and Classification of the

 

Subsidiary Which Acquired the Security Being

 

Reported on By the Parent Holding Company:

 

 

Not Applicable

 

Item 8

Identification and Classification of Members  

 

of the Group:

 

 

Not Applicable

 

Item 9

Notice of Dissolution of Group:

 

 

Not Applicable

 

Item 10

Certification:

 

By signing below the signatory certifies that, to the best of his knowledge and belief, the securities referred to above were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect.

 

Page 9 of 10


 

SIGNATURE

 

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

 

Dated: February 16, 2010

 

S.A.C. CAPITAL ADVISORS, L.P.

By: /s/ Peter Nussbaum

Name: Peter Nussbaum

Title: Authorized Person

S.A.C. CAPITAL ADVISORS, INC.

By: /s/ Peter Nussbaum

Name: Peter Nussbaum

Title: Authorized Person

S.A.C. CAPITAL ASSOCIATES, LLC

By: /s/ Peter Nussbaum

Name: Peter Nussbaum

Title: Authorized Person

STEVEN A. COHEN

By: /s/ Peter Nussbaum

Name: Peter Nussbaum

Title: Authorized Person

 

Page 10 of 10

 

 

 

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