Company: CTLPP
Filing Date: 2025-07-24
Form Type: DEFM14A
Source: 0001140361-25-027048
Chunk: 71

Company: CANTALOUPE, INC.
Filing Date: 2025-07-24
Form: DEFM14A
Chunk 71
---

<div align='center'>35</div>

#### TABLE OF CONTENTS
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. Morgan present to discuss, among other topics, the status of the respective diligence processes of 365, Party C and Party D, the timeline for the transaction process and the merger agreement that was to be provided to potential acquirors of Cantaloupe. Mr. Venkatesan described to the Transaction Committee the meeting between members of Cantaloupe’s management and representatives of 365 and Providence. Representatives of King & Spalding then reviewed the key terms of the draft of the merger agreement that would be distributed to potential acquirors of Cantaloupe, including a termination fee of 2.5% of Cantaloupe’s equity value payable by Cantaloupe in certain circumstances if Cantaloupe were to terminate the merger agreement to accept a “superior proposal” from a third party (which we refer to as a “company termination fee”). After discussion, the Transaction Committee directed representatives of J.P. Morgan to provide the draft of the merger agreement to 365, Party C and Party D. Members of the Transaction Committee and representatives of J.P. Morgan discussed when to ask 365, Party C and Party D for their “best and final” offers to acquire Cantaloupe. After discussion, the Transaction Committee decided to wait until the following week before determining the deadline for “best and final” offers, in order to permit the potential acquirors to further progress their respective diligence efforts.

On May 23, 2025, Party B and Party I jointly sent the Board a letter containing a revised preliminary non-binding proposal to acquire 100% of Cantaloupe’s common stock for $10.50 per share in cash (which we refer to as the “May 23 Party B Proposal”), which proposal represented a 19.5% premium to the closing price for shares of common stock of $8.79 on May