Company: CTLPP
Filing Date: 2025-07-11
Form Type: PREM14A
Source: 0001140361-25-025663
Chunk: 107

Company: CANTALOUPE, INC.
Filing Date: 2025-07-11
Form: PREM14A
Chunk 107
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 Merger Agreement, an amount in cash equal to the merger consideration.

At or immediately prior to the effective time of the Merger, each Cantaloupe Restricted Stock Award that is outstanding immediately prior to the effective time of the Merger will, automatically and without any action required on the part of the holder of such Cantaloupe Restricted Stock Award, become fully vested and free of restrictions and will be canceled and converted into the right to receive, in accordance with the terms of the Merger Agreement, an amount in cash equal to the merger consideration.

At or immediately prior to the effective time of the Merger, each In-the-Money Option that is outstanding immediately prior to the effective time of the Merger will, automatically and without any action required on the part of the holder of such Cantaloupe Option, become fully vested and free of restrictions and be canceled in exchange for cash in an amount equal to (i) the total number of shares of common stock for which such Cantaloupe Option is exercisable, multiplied by (ii) the excess of the merger consideration over the per share exercise price of such Cantaloupe Option. At the effective time of the Merger, each Out-of-the-Money Option that is outstanding immediately prior to the effective time of the Merger will be canceled without consideration and will be of no further force and effect.

Employment Discussions; Rollover Agreements

The Board has granted permission for 365 to engage in discussions with certain executive officers of Cantaloupe, including with respect to (i) their continuing employment with 365 or its affiliates, including the surviving corporation, from and after the effective time of the Merger, and appropriate severance arrangements for employees whose employment with 365 or its affiliates may not continue, (ii) a potential equity investment in 365 or its affiliates in connection with the Merger and (iii) incentive equity arrangements of 365 or its affiliates from and after the effective time of the Merger, including the allocation of any go-forward incentive equity “pool”.

In addition, at or prior to the effective time of the Merger, our directors and executive officers may enter into rollover agreements with 365, Holdco, Holdco II or Merger Subsidiary and contribute their shares of Cantaloupe stock to 365, Holdco, Holdco II or Merger Subsidiary, which shares of Cantaloupe stock will be subject to the treatment specified under the rollover agreement applicable to such rollover