Company: CTLPP
Filing Date: 2025-07-24
Form Type: DEFM14A
Source: 0001140361-25-027048
Chunk: 65

Company: CANTALOUPE, INC.
Filing Date: 2025-07-24
Form: DEFM14A
Chunk 65
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2025, Party E sent the Board a letter containing a preliminary non-binding proposal to acquire 100% of Cantaloupe’s common stock for between $9.00 and $10.00 per share in cash (which we refer to as the “March 12 Party E Proposal”), which proposal, at $9.00 per share of common stock, represented a 11.1% premium to the closing price for shares of common stock of $8.10 on March 11, 2025, the last trading day prior to the March 12 Party E Proposal. The offer letter stated that the March 12 Party E Proposal was subject to a number of contingencies, including completing due diligence.

On March 17, 2025, Party F sent the Board 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 “March 17 Party F Proposal”), which proposal represented a 29.7% premium to the closing price for shares of common stock of $7.71 on March 14, 2025, the last trading day prior to the March 17 Party F Proposal. The offer letter stated that the March 17 Party F Proposal was subject to a number of contingencies, including completing due diligence.

On March 24, 2025, the Transaction Committee held a meeting with members of Cantaloupe’s management and representatives of J.P. Morgan present to discuss, among other topics, the January 21 Party D Proposal, the February 11 Party A Proposal, the February 22 Party G Proposal, the March 12 Party E Proposal and the March 17 Party F Proposal. Representatives of J.P. Morgan updated the Transaction Committee on the offers received from potential acquirors and the transaction process to date, as well as the diligence topics on which potential acquirors had been focused. Following discussion, the Transaction Committee directed J.P. Morgan to solicit from Party A, Party D, Party E, Party F and Party G updated offers, to be submitted by April 18, 2025 following additional diligence by such potential acquirors of Cantaloupe, and to continue to solicit interest from additional potential financial and strategic acquirors.

On March 29, 2025, 365 sent the Board a letter containing a preliminary non-binding proposal to acquire 100% of Cantaloupe’s common stock for $10.50 per share