Company: CTLPP
Filing Date: 2025-07-24
Form Type: DEFM14A
Source: 0001140361-25-027048
Chunk: 85

Company: CANTALOUPE, INC.
Filing Date: 2025-07-24
Form: DEFM14A
Chunk 85
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, collectively representing approximately 17.9% of the voting power of the shares of Cantaloupe stock outstanding as of the record date and entitled to vote at the Special Meeting, have entered into Voting Agreements with 365 to vote in favor of the Merger. For more information, see the section of this proxy statement titled “The Merger—Voting Agreements”. |

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TABLE OF CONTENTS

| • | No Vote of 365 Shareholders. The Board considered the fact that 365 is a limited liability company with a sole member, and therefore the Merger is not subject to the conditionality and execution risk of 365 seeking a shareholder vote to approve and adopt the Merger. |

The Board also considered a variety of risks and other potentially negative factors concerning the Merger and the Merger Agreement, including the following risks and factors (not necessarily in order of relative importance):

| • | No Shareholder Participation in Future Growth or Earning.The nature of the transaction as an all-cash transaction prevents Cantaloupe’s shareholders from being able to participate in any future earnings or growth of Cantaloupe, and Cantaloupe’s shareholders will not benefit from any potential future appreciation in the value of common stock, including any value that could be achieved if Cantaloupe or 365 engages in future strategic or other transactions or as a result of the growth of Cantaloupe’s or 365’s operations. |

| • | Closing Conditions; Effect of Failure to Complete the Merger.While the Board expects that the Merger will be completed, there can be no assurance that the required shareholder approval will be obtained or that all of the other conditions to the completion of the Merger will be satisfied or waived or that the Merger will receive required regulatory approvals, and, as a result, it is possible that factors outside the control of Cantaloupe or 365 could result in the Merger being completed at a later time, or not being completed at all, even if the Merger Proposal is approved by Cantaloupe’s shareholders. The Board also considered potential negative effects if the Merger was not completed, including that: |

| ○ | the trading price of common stock could be adversely affected; |

| ○ | Cantaloupe would have incurred significant transaction and opportunity costs attempting to complete the Merger, including the loss of potential acquisitions; |

| ○ | Cantaloupe could lose business partners and employees after the announcement of the execution of the Merger