Company: CTLPP
Filing Date: 2025-07-24
Form Type: DEFM14A
Source: 0001140361-25-027048
Chunk: 75

Company: CANTALOUPE, INC.
Filing Date: 2025-07-24
Form: DEFM14A
Chunk 75
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 a draft voting agreement and an executed debt commitment letter. The merger agreement provided by 365 included, among other things, a proposed company termination fee of 3.85% of Cantaloupe’s enterprise value and an “end date” in the merger agreement of 12 months, with no contemplated extension.

Later that day, Party B and Party I jointly delivered 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 “June 10 Party B Proposal”), which proposal represented a 25.4% premium to the unaffected stock price. The June 10 Party B Proposal of $10.50 per share was equivalent to the per share price included in the May 23 Party B Proposal. The offer letter submitted by Party B and Party I indicated that such parties were interested in continuing to explore a potential transaction, but did not contain any proposed terms of the transaction other than price, and Party B and Party I did not submit debt or equity commitment letters or a revised draft of the merger agreement.

Later that same day, Party D delivered a revised proposal to acquire 100% of Cantaloupe’s common stock for $10.00 per share in cash (which we refer to as the “June 10 Party D Proposal”), which proposal represented a 19.5% premium to the unaffected stock price. The June 10 Party D Proposal of $10.00 per share was equivalent to the per share price included in the April 7 Party D Proposal. The offer letter stated that Party D had substantially

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completed its due diligence and that Party D believed it could be in a position to sign definitive documentation within two days. The offer letter also indicated that Party D would consider equity rollovers with certain shareholders and would discuss such rollovers after receiving permission from the Board.

Later that same day, Party C delivered a revised proposal to acquire 100% of Cantaloupe’s common stock for $10.00 per share, with 73% of the consideration to be cash and 27% to be Party C’s stock (which we refer to as the “June 10 Party C Proposal”), which proposal represented a 19.5% premium to the unaffected stock price. The June 10 Party C Proposal of $10.00 per share was equivalent to the per share price included in the April 21 Party C Proposal