Cantaloupe acquires Three Square Market for $41M; adds micro market kiosks, international footprint.

CANTALOUPE, INC.

Purchase price $41M: $25M debt from existing credit facility + cash on hand + ~$4.1M stock (1.24M shares, 2-yr vest).
32M estimated to generate ~$19M revenue with 20%+ EBITDA margins for CY2022 standalone.
Adds ~3,000 micro market locations in North America, UK, Sweden, Romania; expands international reach.
Offers full range of self-service kiosks, payment, and software; CEO says immediately accretive to growth and margins.
Analyst day on Dec 12 to provide updated guidance including 32M impact.

item 1.01 item 3.02 item 8.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

CANTALOUPE, INC. amended Amendment with JP Morgan Chase Bank, N.A. (effective 2022-12-01).

Action: amendment
Agreement: credit facility
Counterparty: JP Morgan Chase Bank, N.A.
Effective: 2022-12-01

Exact text from the filing

On December 1, 2022, Cantaloupe, Inc. (“the Company”) entered into that certain first amendment (the “Amendment”) to its Amended and Restated Credit Agreement, dated as of March 17, 2022 (the “Credit Agreement”), among the Company, as the borrower, its subsidiaries, as guarantors, and JP Morgan Chase Bank, N.A., as lender and administrative agent, which, among other things, amended the definition of the Company’s EBITDA under the Credit Agreement.

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CANTALOUPE, INC. filing history →

Source: SEC EDGAR

accession 0001628280-22-031321

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