Company: CTLPP
Filing Date: 2025-07-24
Form Type: DEFM14A
Source: 0001140361-25-027048
Chunk: 99

Company: CANTALOUPE, INC.
Filing Date: 2025-07-24
Form: DEFM14A
Chunk 99
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 to the Board in connection with the Transaction Committee and the Board considering, analyzing and evaluating Cantaloupe’s strategic alternatives, including the Merger. Cantaloupe also provided such unaudited prospective financial projections to Cantaloupe’s financial advisor, J.P. Morgan. Cantaloupe also provided such unaudited prospective financial projections to 365 and other potential acquirors, in connection with their respective evaluations of a potential transaction with Cantaloupe. In May 2025, in connection with the review by Cantaloupe’s management of the financial results for the fiscal quarter ended March 31, 2025, Cantaloupe’s management updated such unaudited prospective financial information to reflect a downward adjustment to projected fiscal year 2025 revenue of approximately $5 million, which adjustment was based on the actual results of Cantaloupe through March 31, 2025. We refer to these financial projections as the “Management Projections”. Cantaloupe provided the Management Projections to J.P. Morgan for its use and reliance in connection with J.P. Morgan’s financial analyses and opinion and such use and reliance was approved by the Board, as more fully described in the section of this proxy statement titled “ The Merger—Opinion of Cantaloupe’s Financial Advisor ” above. Cantaloupe also provided the Management Projections to 365 and other potential acquirors in connection with their respective evaluations of a potential transaction with Cantaloupe.

The Management Projections described below were not prepared with a view towards public disclosure and, other than its quarterly financial guidance, Cantaloupe does not as a matter of course publicly disclose forecasts or internal projections as to future performance due to, among other things, the inherent difficulty of accurately predicting financial performance for future periods and the uncertainty, unpredictability and subjectivity of the underlying assumptions and estimates. The Management Projections are included in this proxy statement only because this information was prepared by Cantaloupe’s management and reviewed and approved by the Board for use and reliance by J.P. Morgan in connection with J.P. Morgan’s financial analyses and opinion, as more fully described in the section of this proxy statement titled “ The Merger—Opinion of Cantaloupe’s Financial Advisor ” above, and for the purpose of providing shareholders of Cantaloupe access to certain information made available to the Board in connection with its evaluation of the Merger. The Management Projections are not being included in this document to influence shareholders