Company: CTLPP
Filing Date: 2025-07-24
Form Type: DEFM14A
Source: 0001140361-25-027048
Chunk: 104

Company: CANTALOUPE, INC.
Filing Date: 2025-07-24
Form: DEFM14A
Chunk 104
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 on cash and leases, interest expense on debt and sales tax reserves, income tax provision, depreciation, amortization, stock-based compensation expense, fees and charges, one-time project expense, one-time severance expenses, and infrequent integration and acquisition expense and certain other significant infrequent or unusual losses and gains that are not indicative of our core operations including asset impairment charges, and gain on extinguishment of debt. |

| (2) | Unlevered cash taxes includes the impact of Cantaloupe’s estimated federal net operating losses of $162 million as of June 30, 2024. |

| (3) | Cantaloupe defines Unlevered Free Cash Flow as Adjusted EBITDA minus stock-based compensation expense, unlevered cash taxes (including the impact of Cantaloupe’s estimated federal net operating losses of $162 million as of June 30, 2024), capital expenditures and changes in net working capital. |

Financing of the Merger We anticipate that the total amount of funds necessary to complete the transactions contemplated by the Merger Agreement, and to pay related fees and expenses, will be approximately $945 million. This amount includes funds needed to pay the Transaction Amounts. 365 has obtained committed Debt Financing to be provided by the Lender Parties pursuant to the terms and conditions of the Debt Commitment Letter. In connection with the Merger Agreement, 365 has delivered to Cantaloupe a copy of the Debt Commitment Letter. The obligations of the Lender Parties to provide Debt Financing under the Debt Commitment Letter are subject to a number of customary conditions, including the substantially concurrent consummation of the Merger. For more information, please see the section of this proxy statement titled “ The Merger Agreement—Debt Financing”. Closing and Effective Time of the Merger The closing of the Merger will occur at 8:00 a.m., Eastern time, as soon as possible, but in any event no later than five business days following the date the conditions set forth in the Merger Agreement (other than those conditions that by their nature are to be satisfied at the closing, but subject to the satisfaction or, to the extent permissible, waiver

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of those conditions at the closing) have been satisfied or, to the extent permissible, waived by the party or parties entitled to the benefit of such conditions, or at such other time or on such other date as Cantaloupe and 365 may mutually agree in writing.

On the