Company: CTLPP
Filing Date: 2025-07-24
Form Type: DEFM14A
Source: 0001140361-25-027048
Chunk: 80

Company: CANTALOUPE, INC.
Filing Date: 2025-07-24
Form: DEFM14A
Chunk 80
---
 draft merger agreement with 365 and other transaction documents that had been negotiated with representatives of 365. In addition, representatives of King & Spalding reviewed with the Board, including the members of the Compensation Committee of the Board, certain compensation matters related to the merger agreement, including the treatment of Cantaloupe’s equity awards in the transaction. Representatives of J.P. Morgan described to the Board the transaction process that resulted in the June 12 365 Proposal, including that Cantaloupe’s management and representatives of J.P. Morgan had discussed a potential sale of Cantaloupe with 36 potential acquirors, of which 27 were financial acquirors and nine

<div align='center'>39</div>

#### TABLE OF CONTENTS
were strategic acquirors. Representatives of J.P. Morgan then reviewed J.P. Morgan’s preliminary views of the merger consideration of $11.20 per share of common stock. Following such discussion, the Board directed Cantaloupe’s management, with the assistance of King & Spalding, to finalize the transaction documents on the contractual terms included in the June 12 365 Proposal and the subsequent discussions between representatives of King & Spalding and Weil, including a price per share of $11.20, and authorized Cantaloupe’s management to discuss certain employee retention, compensation and benefits-related matters with 365.

After the Board meeting on June 13, 2025 and through June 15, 2025, representatives of Cantaloupe, 365, King & Spalding and Weil discussed and finalized the transaction documents. Representatives of Cantaloupe, 365, King & Spalding and Weil also discussed and finalized drafts of the voting agreement with representatives of Hudson’s outside counsel. At the conclusion of these discussions, the parties had agreed on the final form of the merger agreement, which had no material changes from the draft sent by representatives of Weil to representatives of King & Spalding on June 12, 2025, the voting agreement and the other transaction documents.

On June 15, 2025, the Board held a meeting with members of Cantaloupe’s management and representatives of King & Spalding and J.P. Morgan present. Prior to the meeting, the Board received copies of the proposed merger agreement with 365, the form of voting agreement and the other transaction documents, as well as presentation materials prepared by representatives of King & Spalding and J.P. Morgan. Representatives