Company: CTLPP
Filing Date: 2025-07-11
Form Type: PREM14A
Source: 0001140361-25-025663
Chunk: 70

Company: CANTALOUPE, INC.
Filing Date: 2025-07-11
Form: PREM14A
Chunk 70
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 submitted non-binding proposals. Following discussion, including the Board’s weighing of the prospects of achieving long-term value for Cantaloupe’s shareholders through execution of Cantaloupe’s strategic business plan against the value to shareholders that could be realized through a potential sale transaction at a significant premium to the recent and historical market prices of Cantaloupe’s common stock and certain other factors more fully described below under the heading “ The Merger—Recommendation of the Board and Reasons for the Merger ”, the Board determined that it would be in the best interests of Cantaloupe to further explore a potential sale transaction. The Board then directed Cantaloupe’s management, with the assistance of J.P. Morgan, to provide full diligence access to 365, Party C, Party D and Party H and to continue discussions regarding a potential strategic transaction with these four potential acquirors of Cantaloupe.

During the weeks following the May 1, 2025 Board meeting, members of Cantaloupe’s management, with the assistance of J.P. Morgan, provided additional diligence information to 365, Party C, Party D and Party H.

On May 12, 2025, representatives of Party H informed representatives of J.P. Morgan that Party H would no longer be participating in the process to potentially acquire Cantaloupe.

As part of the diligence process, members of Cantaloupe’s management, including Mr. Venkatesan and Scott Stewart, Cantaloupe’s Chief Financial Officer, held full-day meetings with representatives of 365 and Providence Equity Partners L.L.C. (which we refer to as “Providence”) on May 14, 2025, with representatives of Party D on May 21, 2025 and with representatives of Party C on May 22, 2025, in each case to provide additional information on

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Cantaloupe and to answer questions from the representatives of the potential acquirors of Cantaloupe. Members of Cantaloupe’s management also met with representatives of 365’s outside counsel, Weil, Gotshal & Manges LLP (which we refer to as “Weil”), Party C’s outside counsel and Party D’s outside counsel to discuss certain legal due diligence matters.

On May 15, 2025, the Transaction Committee held a meeting with members of Cantaloupe’s management and representatives of King & Spalding and J.P