Company: CTLPP
Filing Date: 2025-07-11
Form Type: PREM14A
Source: 0001140361-25-025663
Chunk: 81

Company: CANTALOUPE, INC.
Filing Date: 2025-07-11
Form: PREM14A
Chunk 81
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5, to the effect that, as of such date, and based upon and subject to the assumptions made, procedures followed, matters considered and limitations on the review undertaken by J.P. Morgan in preparing its opinion, the merger consideration to be paid to the holders (other than the Excluded Shareholders) of common stock in the proposed Merger was fair, from a financial point of view, to such holders, as more fully described below in the section of this proxy statement titled “ The Merger—Opinion of Cantaloupe’s Financial Advisor ”. Representatives of J.P. Morgan also confirmed that there had been no changes to J.P. Morgan’s relationship disclosures as provided to the Board on June 13, 2025. Following these discussions and the delivery of the presentations, and after careful review and discussion by the Board, including consideration of the factors described below under the heading “ The Merger—Recommendation of the Board and Reasons for the Merger ” beginning on page 39 of this proxy statement, the Board unanimously determined that the merger agreement and the transactions contemplated thereby, including the Merger, were in the best interests of Cantaloupe and approved, adopted and declared advisable the merger agreement and the transactions contemplated thereby, including the Merger.

Following the Board meeting on June 15, 2025, Cantaloupe and 365 executed and delivered the Merger Agreement and related transaction agreements. 365 also entered into the Voting Agreements with Hudson and each member of the Board contemporaneously with the execution of the Merger Agreement.

On June 16, 2025, before the commencement of trading hours, Cantaloupe and 365 issued a joint press release announcing the Merger.

**Recommendation of the Board and Reasons for the Merger**

After careful consideration, as described above in the section of this proxy statement titled “ The Merger — Background of the Merger ”, the Board unanimously (i) determined that the Merger Agreement and the transactions contemplated thereby, including the Merger, are in the best interests of Cantaloupe, (ii) approved, adopted and declared advisable the Merger Agreement and the transactions contemplated thereby, including the Merger, (iii) recommended the approval and adoption of the Merger Agreement by Cantaloupe’s shareholders and (iv) directed that the Merger Agreement be submitted to Cantaloupe’s shareholders for their vote to adopt the Merger Agreement at a duly convened meeting of Cantaloupe’s shareholders.

**The Board unanimously