Company: CTLPP
Filing Date: 2025-06-16
Form Type: DEFA14A
Source: 0001104659-25-059759
Chunk: 2

Company: CANTALOUPE, INC.
Filing Date: 2025-06-16
Form: DEFA14A
Chunk 2
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 for no consideration) will be canceled and converted into the
right to receive $11.20 in cash, without interest (such amount per share, the “Merger Consideration”).

The Merger Agreement
also provides that at or immediately prior to the Effective Time, (i) each Company RSU (as defined in the Merger Agreement) that
is outstanding immediately prior to the Effective Time will become fully vested and free of restrictions and will be canceled and converted
into the right to receive an amount in cash equal to the Merger Consideration, (ii) each Company PSU (as defined in the Merger Agreement)
that is outstanding immediately prior to the Effective Time which remains subject to vesting based on achieving certain performance metrics
will become vested with respect to that number of shares of Common Stock based on deemed achievement of the performance metrics at target
performance, and will be canceled and converted into the right to receive, with respect to each such vested share of Company Stock underlying
such Company PSU, an amount in cash equal to the Merger Consideration, (iii) each Company Restricted Stock Award (as defined in the
Merger Agreement) that is outstanding immediately prior to the Effective Time will become fully vested and free of restrictions and will
be canceled and converted into the right to receive an amount in cash equal to the Merger Consideration, and (iv) each outstanding
In-the-Money Option (as defined in the Merger Agreement) will become fully vested and free of restrictions and be canceled in exchange
for cash in an amount equal to (A) the total number of shares of Common Stock for which such In-the-Money Option is exercisable,
multiplied by (B) the excess of the Merger Consideration over the per share exercise price of such In-the-Money Option, and each
outstanding Out-of-the-Money Option (as defined in the Merger Agreement) will be canceled without consideration.

The Board of Directors
of the Company (the “Board of Directors”) has unanimously approved the Merger Agreement and the transactions contemplated
by the Merger Agreement, including the Merger, and has recommended that the shareholders of the Company approve and adopt the Merger Agreement.
The shareholders of the Company will be asked to vote on the approval and adoption of the Merger Agreement and the transactions contemplated
by the Merger Agreement, including the Merger, at a special shareholder meeting that will be held on a date to be announced as promptly
as reasonably practicable following the customary review process