Company: CTLPP
Filing Date: 2025-07-24
Form Type: DEFM14A
Source: 0001140361-25-027048
Chunk: 64

Company: CANTALOUPE, INC.
Filing Date: 2025-07-24
Form: DEFM14A
Chunk 64
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aloupe that was conducted to date, the feedback from potential acquirors and their preliminary views of each of the January 21 Party D Proposal, the February 11 Party A Proposal and the February 22 Party G Proposal. At the meeting, members of Cantaloupe’s management presented financial projections to the Transaction Committee. Representatives of J.P. Morgan discussed with the Transaction Committee J.P. Morgan’s preliminary financial perspective on Cantaloupe on a stand-alone basis. Representatives of J.P. Morgan also discussed with the Transaction Committee the recent stock price performance of Cantaloupe and other companies in the payments and financial services industries, premiums paid by acquirors in transactions involving U.S. publicly traded targets and potential next steps if Cantaloupe were to further evaluate the proposals. In addition, at the request of the Board, J.P. Morgan provided to the Board an additional relationship disclosure letter, which provided disclosures regarding J.P. Morgan and its affiliates’ commercial relationships with Party G.

Following discussion, the Transaction Committee directed Cantaloupe’s management, with the assistance of J.P. Morgan, to provide Party A, Party C, Party D and Party G with limited high-level information in order to enable these potential acquirors to continue their respective diligence processes. The Transaction Committee also directed Cantaloupe’s management, with the assistance of J.P. Morgan, to evaluate the potential acquirors that had contacted members of Cantaloupe’s management or representatives of J.P. Morgan following the publication of the Reuters article, and also to continue to solicit interest from additional potential financial and strategic acquirors to gauge their interest in a potential transaction with Cantaloupe.

Following the meeting on March 3, 2025, J.P. Morgan, at the direction of Cantaloupe’s management, contacted seven additional potential acquirors, including two potential financial acquirors and five potential strategic acquirors, to gauge their interest in a potential transaction with Cantaloupe.

By April 10, 2025, Cantaloupe had entered into confidentiality agreements with 11 potential acquirors, including 365, Party A, Party C, Party D, Party E, Party F, Party G, Party H and one other financial acquiror (which we refer to as “Party I”). None of these confidentiality agreements included “standstill” restrictions that would prevent a party from submitting an acquisition proposal following the execution of the Merger Agreement.

On March 12,