MergerMay 1, 2026, 04:28 PM
Cantaloupe Merger with 365 Retail Markets Expected May 8
AI Summary
Cantaloupe, Inc. announced that the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 for its merger with 365 Retail Markets, LLC has terminated. As a result, the closing of the merger is now expected to occur on or about May 8, 2026. The company also confirmed its election to redeem all outstanding shares of its Series A Convertible Preferred Stock immediately prior to the merger's closing, with a redemption price of $11.00 plus accrued dividends, totaling $62.90 per share as of May 8, 2026. Preferred stockholders retain the right to convert their shares into common stock before the redemption date.
Key Highlights
- Merger Agreement with 365 Retail Markets, LLC previously announced on June 15, 2025.
- Hart-Scott-Rodino Antitrust Improvements Act (HSR Act) waiting period terminated on May 1, 2026.
- Closing of the Merger is expected to occur on or about May 8, 2026.
- Cantaloupe will redeem all outstanding Series A Convertible Preferred Stock immediately prior to Closing.
- Redemption price is $11.00 plus accrued and unpaid cumulative dividends.
- Accrued and unpaid cumulative dividends as of May 8, 2026, are $51.90 per share.
- Total redemption price as of May 8, 2026, is $62.90 per share.
- Holders of preferred stock can convert to common stock prior to the redemption date.