Company: CTLPP
Filing Date: 2025-07-24
Form Type: DEFM14A
Source: 0001140361-25-027048
Chunk: 149

Company: CANTALOUPE, INC.
Filing Date: 2025-07-24
Form: DEFM14A
Chunk 149
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 any proposal by 365 to amend the terms of the Merger Agreement in response to such Superior Proposal so that such Acquisition Proposal ceases to constitute a Superior Proposal (it being understood that any material revision to the terms of a Superior Proposal, including any revision in price, will require a new notice from Cantaloupe to 365 of any such material revision and cause such notice period to be extended to ensure that at least three business days remain in such notice period subsequent to the time Cantaloupe notifies 365 of any such material revision, and that such notice period may be extended multiple times), the intent and purpose of which is to amend the Merger Agreement in such a manner that obviates the need the actions set forth in clauses (i) or (ii) in the preceding paragraph, as applicable; |

| • | the Board has considered in good faith any revisions to the terms of the Merger Agreement proposed by 365 in writing as a result of the negotiations required by the fourth bullet above or otherwise; and |

| • | following the end of such period, the Board, after discussions with Cantaloupe’s financial advisors and outside legal counsel, determines in good faith, taking into account any revisions to the terms and conditions of the Merger Agreement proposed by 365 in writing as a result of the negotiations required by the fourth bullet above or otherwise, that such Acquisition Proposal continues to constitute a Superior Proposal such that the Board’s failure to take the actions set forth above would be inconsistent with the directors’ fiduciary duties under applicable law. |

After delivery of any written notice pursuant to ‎the foregoing, and until the valid termination of the Merger Agreement in accordance with its terms, Cantaloupe will promptly keep 365 informed of all material developments affecting the material terms of any such Superior Proposal. Notwithstanding anything to the contrary set forth in the Merger Agreement, prior to obtaining the required Cantaloupe shareholder approval, the Board may, in response to an Intervening Event, make an Adverse Recommendation Change; provided, however, that the Board will not be entitled to effect such an Adverse Recommendation Change until:

| • | Cantaloupe has given 365 at least four business days’ prior written notice in advance of any meeting of the Board at which the Board will consider whether the Intervening Event requires the Board to take such action, specifying the date and time of such meeting and specifying the reasons therefor, which notice will include a reasonably detailed description of the facts relating to