Company: CTLPP
Filing Date: 2025-02-05
Form Type: 8-K
Source: 0001628280-25-004018
Chunk: 1

Company: CANTALOUPE, INC.
Filing Date: 2025-02-05
Form: 8-K
Item: Item 1.01
Chunk 1
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 respect of the 2025 Term Loan Facility is payable with 5.0% due in year one and year two, 7.5% due in year three and year 4, 10% due in year 5, and the remainder payable upon maturity. To the extent funded, principal in respect of the Delayed Draw Term Loan Facility will be payable on the same terms as the 2025 Term Loan Facility.

The Company’s obligations under the 2025 Credit Agreement are unconditionally guaranteed, jointly and severally, by the Company’s material direct and indirect wholly-owned domestic and foreign subsidiaries (the “ Guarantors”). All obligations of the Company and the Guarantors under the 2025 Credit Agreement are secured by first priority security interests in substantially all of the assets of the Company and the Guarantors.

The 2025 Credit Facility includes customary representations, warranties and covenants, and acceleration, indemnity and events of default provisions, including, among other things, two financial covenants. The first financial covenant requires the Company to maintain a total leverage ratio of not more than 3.50 to 1.00 on the last day of any fiscal quarter. However, if a material acquisition occurs, the Company is required to maintain a total leverage ratio not greater than 4.00 to 1.00 on the last day of the fiscal quarter for the next four fiscal quarters following the material acquisition. The second financial covenant requires the Company to maintain a fixed charge coverage ratio for all periods of four consecutive fiscal quarters at least 1.15 to 1.00.

The Company paid $0.6 million in transaction fees plus certain legal expenses in connection with the execution of the Secured Credit Facility.

The foregoing description of the Credit Agreement is qualified in its entirety by reference to the full text of such agreement, which is attached to this Current Report on Form 8-K as Exhibit 10.1 and incorporated herein by reference.

Item 2.03 Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant.