Company: CTLPP
Filing Date: 2025-07-11
Form Type: PREM14A
Source: 0001140361-25-025663
Chunk: 62

Company: CANTALOUPE, INC.
Filing Date: 2025-07-11
Form: PREM14A
Chunk 62
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 to the closing price for shares of common stock of $8.67 on February 6, 2025.

On February 11, 2025, Party A verbally indicated to representatives of J.P. Morgan a preliminary non-binding proposal to acquire 100% of Cantaloupe’s common stock for between $10.00 and $10.50 per share in cash (which we refer to as the “February 11 Party A Proposal”), which proposal, at $10.00 per share of common stock, represented a 0.7% premium to the closing price for shares of common stock of $9.93 on February 10, 2025, the last trading day prior to the February 11 Party A Proposal. Party A did not subsequently provide a written offer to the Board.

On February 22, 2025, a financial acquiror (which we refer to as “Party G”) sent Mr. Venkatesan a letter containing a preliminary non-binding proposal to acquire 100% of Cantaloupe’s common stock for $11.50 per share in cash (which we refer to as the “February 22 Party G Proposal”), which proposal represented a 9.0% premium to the closing price for shares of common stock of $10.55 on February 21, 2025, the last trading day prior to the February 22 Party G Proposal. The offer letter stated that the February 22 Party G Proposal was subject to a number of contingencies, including completing due diligence, and stated that the proposal assumed that key members of Cantaloupe’s management would remain in place after the consummation of the potential transaction.

On February 23, 2025, J.P. Morgan provided a relationship disclosure letter to the Board, which provided disclosures regarding J.P. Morgan and its affiliates’ commercial relationships with each of Cantaloupe, Party D and Hudson. On the same day, following review of J.P. Morgan’s relationship disclosure letter, Cantaloupe formally engaged J.P. Morgan as its financial advisor pursuant to an engagement letter dated as of February 23, 2025 reflecting this engagement.

On February 25, 2025, Reuters published an article stating that Cantaloupe was exploring strategic options, including a potential sale or a go-private transaction, and that it was working with investment bankers at J.P. Morgan in connection with such process. The closing price for shares of common stock on February 25, 2025 was $