As announced last June 16, Global Cash Access will acquire Cash Systems for total aggregate consideration of approximately us$ 33 million which includes amounts to be paid for all of Cash Systems’ issued and outstanding shares of common stock at us$ 0.50 per share, all of Cash Systems’ outstanding convertible promissory notes and warrants for us$ 21 million plus accrued but unpaid interest, and other transaction related expenses.
The Transaction has been approved by the boards of directors of both companies.