Company: CTLPP
Filing Date: 2025-07-24
Form Type: DEFM14A
Source: 0001140361-25-027048
Chunk: 60

Company: CANTALOUPE, INC.
Filing Date: 2025-07-24
Form: DEFM14A
Chunk 60
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katesan via email to request a telephonic meeting. Mr. Venkatesan and representatives of Party D met telephonically on December 10, 2024 and discussed Cantaloupe and Cantaloupe’s industry generally. No terms of a potential transaction were discussed.

On January 15, 2025, Mr. Venkatesan and representatives of Party D met in person and discussed Cantaloupe and Cantaloupe’s industry generally. No terms of a potential transaction were discussed.

On January 21, 2025, Party D sent Mr. Venkatesan a letter containing a preliminary non-binding proposal to acquire 100% of Cantaloupe’s common stock for $10.00 per share in cash (which we refer to as the “January 21 Party D Proposal”), which proposal represented a 22.7% premium to the closing price for shares of common stock of $8.15 on January 17, 2025, the last trading day prior to the January 21 Party D Proposal. The offer letter stated that the January 21 Party D Proposal was subject to a number of contingencies, including completing due diligence. Mr. Venkatesan promptly informed the Board of the January 21 Party D Proposal.

On January 24, 2025, the Board held a regularly scheduled meeting with members of Cantaloupe’s management present. At the meeting, the Board discussed, among other topics, the January 21 Party D Proposal. Mr. Venkatesan described to the Board his conversations with representatives of Party D prior to and following receipt of the January 21 Party D Proposal. Mr. Venkatesan also described to the Board the conversations he had with representatives of Party A, Party B and Party C. Mr. Venkatesan also reviewed with the Board Cantaloupe’s strategic framework, including its long-term strategy, financial performance expectations, operational priorities, market trends and key risks. During the same meeting, the Board discussed whether to engage a financial advisor to assist Cantaloupe’s management and the Board in evaluating Party D’s proposal, determining whether to explore a potential transaction and identifying other parties that might have interest in a potential transaction involving Cantaloupe should the Board determine that exploring a potential transaction was in the best interests of Cantaloupe.

Following discussion, the Board authorized Cantaloupe’s management to contact and, subject to review of information with respect to any potential conflicts of interest that J