Company: CTLPP
Filing Date: 2025-07-24
Form Type: DEFM14A
Source: 0001140361-25-027048
Chunk: 67

Company: CANTALOUPE, INC.
Filing Date: 2025-07-24
Form: DEFM14A
Chunk 67
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On April 15, 2025, Party B and Party I jointly sent the Board a letter containing a preliminary non-binding proposal to acquire 100% of Cantaloupe’s common stock for $10.00 per share in cash (which we refer to as the “April 15 Party B Proposal”), which proposal represented a 30.5% premium to the closing price for shares of common stock of $7.66 on April 14, 2025, the last trading day prior to the April 15 Party B Proposal. The offer letter stated that the April 15 Party B Proposal was subject to a number of contingencies, including completing due diligence. The April 15 Party B Proposal also contemplated that certain, unspecified existing shareholders would roll their equity in Cantaloupe into the post-closing company.

On April 21, 2025, Party C sent the Board a letter containing a preliminary non-binding proposal to acquire 100% of Cantaloupe’s common stock for $10.00 per share, with 80% of the consideration to be cash and 20% to be Party C’s stock (which we refer to as the “April 21 Party C Proposal”), which proposal represented a 32.8% premium to the closing price for shares of common stock of $7.53 on April 17, 2025, the last trading day prior to the April 21 Party C Proposal. The offer letter stated that the April 21 Party C Proposal was subject to a number of contingencies, including completing due diligence.

On April 22, 2025, 365 sent the Board a letter containing a revised preliminary non-binding proposal to acquire 100% of Cantaloupe’s common stock for $10.75 per share in cash (which we refer to as the “April 22 365 Proposal”), which proposal represented a 45.5% premium to the closing price for shares of common stock of $7.39 on April 21, 2025, the last trading day prior to the April 22 365 Proposal. The April 22 365 Proposal of $10.75 per share represented an increase of $0.25 per share relative to the per share price included in the March 29 365 Proposal. The offer letter stated that the April 22 365 Proposal was subject to a number of contingencies, including completing due diligence.

On April 23, 2025, Party F sent the Board a letter containing a revised preliminary