Company: CTLPP
Filing Date: 2025-07-11
Form Type: PREM14A
Source: 0001140361-25-025663
Chunk: 148

Company: CANTALOUPE, INC.
Filing Date: 2025-07-11
Form: PREM14A
Chunk 148
---
ger Agreement, prior to obtaining the required Cantaloupe shareholder approval, the Board may, in response to a Superior Proposal, (i) make an Adverse Recommendation Change and/or (ii) terminate the Merger Agreement to concurrently enter into a definitive agreement with respect to such Superior Proposal in accordance with the termination rights of Cantaloupe set forth in the Merger Agreement, if, and only if:

| • | Cantaloupe has received an unsolicited bona fide written Acquisition Proposal made after the date of the Merger Agreement that has not been withdrawn and did not result from a material breach of the obligations set forth in Section 6.03 of the Merger Agreement; |

| • | the Board determines in good faith, after consultation with outside counsel and its financial advisors (x) that such Acquisition Proposal constitutes a Superior Proposal and (y) in light of such Superior Proposal, and absent any further revisions to the terms and conditions of the Merger Agreement, that the failure to take the actions set forth in clauses (i) or (ii) in the preceding paragraph, as applicable, would be inconsistent with the directors’ fiduciary duties under applicable law; |

| • | Cantaloupe promptly notifies 365 in writing at least four business days before taking such action, that Cantaloupe intends to take such action, which notice attaches the most current unredacted version of any proposed Company Acquisition Agreement (provided that, with respect to any debt commitment letter delivered in connection herewith, applicable fee letters may be provided in the same redacted form if such letters are received by Cantaloupe in such redacted form) and a reasonably detailed summary of all material |

74

TABLE OF CONTENTS

terms and conditions of such Superior Proposal and the identity of the third party making such Superior Proposal and states that the Board has determined in good faith, after consultation with its financial advisors and outside counsel, that failure to take the actions set forth in clauses (i) or (ii) in the preceding paragraph, as applicable, would be inconsistent with the directors’ fiduciary duties under applicable law, and that the Board intends to effect an Adverse Recommendation Change or terminate the Merger Agreement pursuant to the termination rights of Cantaloupe set forth in the Merger Agreement absent revisions to the terms and conditions of the Merger Agreement that would cause such Acquisition Proposal to cease to constitute a Superior Proposal (it being understood that the notice in and of itself will not constitute an Adverse Recommendation Change for purposes of