Company: CTLPP
Filing Date: 2025-07-24
Form Type: DEFM14A
Source: 0001140361-25-027048
Chunk: 82

Company: CANTALOUPE, INC.
Filing Date: 2025-07-24
Form: DEFM14A
Chunk 82
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 — Background of the Merger ”, the Board unanimously (i) determined that the Merger Agreement and the transactions contemplated thereby, including the Merger, are in the best interests of Cantaloupe, (ii) approved, adopted and declared advisable the Merger Agreement and the transactions contemplated thereby, including the Merger, (iii) recommended the approval and adoption of the Merger Agreement by Cantaloupe’s shareholders and (iv) directed that the Merger Agreement be submitted to Cantaloupe’s shareholders for their vote to adopt the Merger Agreement at a duly convened meeting of Cantaloupe’s shareholders.

**The Board unanimously recommends that you vote: (1) “FOR” the Merger Proposal, (2) “FOR” the Advisory Compensation Proposal and (3) “FOR” the Adjournment Proposal.**

In evaluating the Merger Agreement and the transactions contemplated thereby, including the Merger, the Board consulted with Cantaloupe’s executive management team, J.P. Morgan and King & Spalding. In the course of

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reaching its determination, the Board considered a number of factors and benefits of the Merger, including the following factors weighing in favor of approving the Merger Agreement (not necessarily in order of relative importance):

| • | Premium to Market Prices.The fact that the $11.20 price to be paid for each share of common stock represents a significant premium to recent and historical market prices of Cantaloupe’s common stock, including a premium of approximately 34% to Cantaloupe’s unaffected stock price on May 30, 2025. |

| • | Cash Consideration; Certainty of Value. The fact that the merger consideration consists solely of cash, providing Cantaloupe’s shareholders with certainty of value and liquidity upon consummation of the Merger and does not expose them to any future risks related to the business or macroeconomic conditions, as compared to Cantaloupe remaining independent. |

| • | Cantaloupe’s Operating and Financial Condition and Prospects. The Board’s consideration of its knowledge and familiarity with Cantaloupe’s business, including its current and historical financial condition and results of operations, competitive position and properties and assets, as well as Cantaloupe’s business strategy and prospects, including certain prospective projections for Cantaloupe prepared by Cantaloupe’s management, as set forth below in the section of this proxy statement titled“The