PAR Technology Announces Proposed Public Offering of Common Stock

PAR Technology Corporation (NYSE: PAR), a leading global provider of point of sale (POS) software, hardware and integrated technical solutions to the restaurant and retail industries, today announced the commencement of a proposed underwritten public offering of 3,350,000 shares of its common stock. All of the shares to be sold in the offering will be offered by PAR Technology. In addition, PAR Technology expects to grant Jefferies LLC, the underwriter of the offering, a 30-day option to purchase up to an additional 502,500 shares of common stock at the public offering price, less underwriting discounts and commissions. The offering is subject to market and other conditions, and there can be no assurance as to whether or when the offering may be completed, or as to the actual size or terms of the offering.

PAR Technology expects to use the net proceeds from this offering for working capital and general corporate purposes, and may also use a portion of the proceeds to acquire or invest in other assets complementary to its business.

Jefferies is acting as sole manager for the offering.

The shares are being offered by PAR Technology pursuant to an automatically effective shelf registration statement that was filed with the Securities and Exchange Commission (“SEC”) on September 30, 2020.

The offering is being made only by means of a prospectus and prospectus supplement that form a part of the registration statement. A preliminary prospectus supplement relating to and describing the terms of the offering is expected to be filed with the SEC and, if and when filed, copies of the preliminary prospectus supplement relating to the offering may be obtained for free by visiting the SEC’s website at www.sec.gov. When available, copies of the preliminary prospectus supplement and the accompanying prospectus may also be obtained by contacting: Jefferies LLC, Equity Syndicate Prospectus Department, 520 Madison Avenue, 2nd Floor, New York, NY 10022; by phone at [phone]; or by e-mail at [e-mail].

This press release shall not constitute an offer to sell or the solicitation of any offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

About PAR Technology Corporation

PAR Technology Corporation, through its wholly owned subsidiary ParTech, Inc., is a customer success-driven, global restaurant and retail technology company with over 100,000 restaurants in more than 110 countries using its point of sale hardware and software. ParTech’s Brink POS integration ecosystem enables quick service, fast casual, table service, and cloud restaurants to improve their operational efficiency by combining its cloud-based POS software with the world’s leading restaurant technology platforms. PAR Technology’s Government segment is a leader in providing computer-based system design, engineering and technical services to the Department of Defense and various federal agencies.