PAR Technology Corporation (PAR) stock plunged 5.06% to $64.90 in premarket today. Even in the regular trading session, PAR’s stock lost 2.01%. its shares have risen 65.36% over the last 12 months, and they have moved down 3.95% in the past week. Over the past three months, the stock has gained 1.70%, while over the past six months, it has reduced by 8.33%.
Let’s see what’s going on with the company in the recent past?
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PAR Proposed Offerings of Common Stock
On September 13, 2021, PAR Technology Corporation announced its intention to offer 1.5 million shares of common stock and a $200.0 million aggregate principal amount of Convertible Senior Notes due 2027. In addition, PAR intends to grant a 30-day option to the underwriters to purchase up to an additional 225,000 shares of common stock and up to an additional $30.0 million aggregate principal amount of 2027 Notes.
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PAR New Products at FSTEC
On September 10, 2021, PAR Technology Corporation showcased its new product offerings at the leading restaurant technology tradeshow, FSTEC in Grapevine, TX on September 12th-14th.t
The new products are,
- PAR Phase® – Designed to handle all the phases of your business.
- PAR Infinity® – Hardware as a Service for counter and kitchen, including the new PAR Helix™, PAR KDS, and PAR Services.
- Punchh®: A Data-Driven Platform that Converts Unknown Buyers into Brand Superfans
PAR Stock Punchh on Jack in the Box
On September 09, 2021, Jack in the Box, Inc entered into the final implementation phase of ParTech, Inc’s leading customer loyalty, offers, and engagement solution, Punchh, to introduce a new online digital loyalty program for its 2,219 restaurants.
Punchh will be responsible for updating Jack in the Box’s online ordering interface and adding a loyalty program to provide an upgraded app and digital experience for guests. It will also implement add-on coupons and promotions module to send targeted offers to guests outside of its loyalty program.
PAR Stock partnership with GRUBBRR
On August 11, 2021, ParTech, Inc partnered with GRUBBRR®, to help restaurants seamlessly create customized, profitable systems. ParTech, Inc., is a wholly-owned subsidiary of PAR Technology Corporation.
GRUBBRR’s ecosystem covers a wide range of products, including kiosks and automated checkout systems, line busters, online ordering solutions, and menu boards. GRUBBRR and PAR share a native integration with no intermediaries, enabling the ability to pass and receive data between GRUBBRR, PAR, and Punchh.
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Conclusion
The stock plummeted after the company announced its intention to sell its common stock. We are unsure how it will perform in the coming trading session on Tuesday.
