Company: CTLPP
Filing Date: 2025-07-24
Form Type: DEFM14A
Source: 0001140361-25-027048
Chunk: 73

Company: CANTALOUPE, INC.
Filing Date: 2025-07-24
Form: DEFM14A
Chunk 73
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 stock to enter into voting agreements. The issues list also indicated that 365’s position on the “end date” under the merger agreement was subject to discussion between representatives of King & Spalding and Weil. Representatives of King & Spalding met with representatives of Weil on June 3, 2025 to discuss the issues list.

Later on June 2, 2025, Street Insider published a report online indicating that multiple parties were involved in process to potentially acquire Cantaloupe. The closing price for shares of common stock on May 30, 2025, the last trading day prior to the Street Insider report, was $8.37 per share (which we refer to as the “unaffected stock price”).

On June 3, 2025, representatives of Party D’s outside counsel sent representatives of King & Spalding a revised draft merger agreement and an issues list pertaining to the draft merger agreement. Party D’s revised draft of the merger agreement included, among other things, a company termination fee of 4.0% of Cantaloupe’s equity value. Party D

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also indicated that Hudson and each member of the Board would be required to enter into voting agreements, and Party D provided a draft voting agreement. Party D also indicated in its issues list that Party D was open to equity rollovers with certain shareholders, which Party D would be willing to discuss at the appropriate times and with the permission of the Board. Representatives of King & Spalding met with representatives of Party D’s outside counsel on June 4, 2025 to discuss Party D’s revised draft merger agreement.

On June 4, 2025, representatives of Party C’s outside counsel sent representatives of King & Spalding an issues list pertaining to the draft merger agreement, which issues list proposed, among other things, that consideration for the merger would be composed of a mix of cash and Party C’s stock and a company termination fee of 4.5% of Cantaloupe’s equity value. Party C also indicated that Hudson and each member of the Board would be required to enter into voting agreements.

On June 5, 2025, representatives of Weil sent representatives of King & Spalding a revised draft merger agreement. As had been discussed between representatives of King & Spalding and Weil on June 3, 2025, 365’s revised draft of the merger agreement included, among