Company: CTLPP
Filing Date: 2025-07-11
Form Type: PREM14A
Source: 0001140361-25-025663
Chunk: 63

Company: CANTALOUPE, INC.
Filing Date: 2025-07-11
Form: PREM14A
Chunk 63
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10.68, while the closing price for shares of common stock on February 24, 2025, the last trading day prior to the Reuters article, was $10.35 per share.

After the publication of the Reuters article, 12 additional potential acquirors contacted Cantaloupe’s management or representatives of J.P. Morgan to express interest in a potential acquisition of Cantaloupe, including 365 and 11 potential financial acquirors (one of which we refer to as “Party H”).

On March 2, 2025, the Board held a meeting with members of Cantaloupe’s management present. At the meeting, the Board discussed the process regarding a potential acquisition of Cantaloupe that was conducted to date, the feedback from potential acquirors, and the January 21 Party D Proposal, the February 11 Party A Proposal and the February 22 Party G Proposal. Also at the meeting, in order to facilitate the Board providing guidance to Cantaloupe’s management during the negotiations of the potential sale transaction, the Board formed a transaction committee (which we refer to as the “Transaction Committee”), consisting of Douglas Bergeron, Jacob Lamm, Michael Passilla, Mr. Venkatesan and Shannon Warren. The Board appointed these directors to the Transaction Committee based on their experience with respect to strategic transactions and their availability. The Board did not delegate any decision-making authority to the Transaction Committee. The Transaction Committee scheduled a meeting for the next day and invited J.P. Morgan to such meeting.

On March 3, 2025, the Transaction Committee held a meeting with members of Cantaloupe’s management and representatives of J.P. Morgan present. Representatives of J.P. Morgan reviewed the process regarding a potential

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acquisition of Cantaloupe that was conducted to date, the feedback from potential acquirors and their preliminary views of each of the January 21 Party D Proposal, the February 11 Party A Proposal and the February 22 Party G Proposal. At the meeting, members of Cantaloupe’s management presented financial projections to the Transaction Committee. Representatives of J.P. Morgan discussed with the Transaction Committee J.P. Morgan’s preliminary financial perspective on Cantaloupe on a stand-alone basis. Representatives of J.P. Morgan also discussed with the Transaction Committee the recent stock price performance of Cantaloupe and other companies in the payments and financial services industries, premiums paid by