Company: CTLPP
Filing Date: 2025-07-24
Form Type: DEFM14A
Source: 0001140361-25-027048
Chunk: 66

Company: CANTALOUPE, INC.
Filing Date: 2025-07-24
Form: DEFM14A
Chunk 66
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 in cash (which we refer to as the “March 29 365 Proposal”), which proposal represented a 38.7% premium to the closing price for shares of common stock of $7.57 on March 28, 2025, the last trading day prior to the March 29 365 Proposal. The offer letter stated that the March 29 365 Proposal was subject to a number of contingencies, including completing due diligence.

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On March 31, 2025, the Transaction Committee held a meeting with members of Cantaloupe’s management and representatives of J.P. Morgan present. Representatives of J.P. Morgan updated the Transaction Committee on the March 29 365 Proposal and the transaction process to date. Following discussion, the Transaction Committee directed J.P. Morgan to solicit from 365 an updated offer, to be submitted by April 18, 2025 following additional diligence by 365, and to continue to solicit interest from additional potential financial and strategic acquirors.

On April 6, 2025, Party H sent the Board a letter containing a preliminary non-binding proposal to acquire 100% of Cantaloupe’s common stock for $11.00 per share in cash (which we refer to as the “April 6 Party H Proposal”), which proposal represented a 47.3% premium to the closing price for shares of common stock of $7.47 on April 4, 2025, the last trading day prior to the April 6 Party H Proposal. The offer letter stated that the April 6 Party H Proposal was subject to a number of contingencies, including completing due diligence.

On April 7, 2025, Party D sent the Board a letter containing a revised 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 7 Party D Proposal”), which proposal represented a 33.9% premium to the closing price for shares of common stock of $7.47 on April 4, 2025, the last trading day prior to the April 7 Party D Proposal. The April 7 Party D Proposal of $10.00 per share was equivalent to the per share price included in the January 21 Party D Proposal. The offer letter stated that the April 7 Party D Proposal was subject to a number of contingencies, including completing due diligence