Cantaloupe, Inc. Files Material Definitive Agreement 8-K

Ticker: CTLPP · Form: 8-K · Filed: Feb 5, 2025 · CIK: 896429

Cantaloupe, Inc. 8-K Filing Summary
FieldDetail
CompanyCantaloupe, Inc. (CTLPP)
Form Type8-K
Filed DateFeb 5, 2025
Risk Levelmedium
Pages4
Reading Time4 min
Key Dollar Amounts$30 million, $40 million, $100 million, $37.3 m, $0.6 million
Sentimentneutral

Sentiment: neutral

Topics: material-definitive-agreement, financing, corporate-update

Related Tickers: CTLP

TL;DR

Cantaloupe (CTLP) filed a material definitive agreement 8-K on Jan 31, 2025. Big news incoming.

AI Summary

On January 31, 2025, Cantaloupe, Inc. entered into a material definitive agreement, likely related to financing or a significant operational change, as indicated by the filing of an 8-K. The company, formerly known as USA Technologies Inc., is based in Malvern, Pennsylvania.

Why It Matters

This filing signals a significant development for Cantaloupe, Inc., potentially impacting its financial structure or strategic direction.

Risk Assessment

Risk Level: medium — Material definitive agreements can introduce new financial obligations or strategic shifts that carry inherent business risks.

Key Players & Entities

  • Cantaloupe, Inc. (company) — Registrant
  • USA Technologies Inc. (company) — Former company name
  • January 31, 2025 (date) — Date of Report
  • Pennsylvania (location) — State of incorporation
  • Malvern (location) — Principal Executive Offices City

FAQ

What type of material definitive agreement did Cantaloupe, Inc. enter into?

The filing indicates the entry into a material definitive agreement, but the specific nature of the agreement is not detailed in the provided header information.

When was the report filed?

The report was filed on February 5, 2025.

What was Cantaloupe, Inc.'s former name?

Cantaloupe, Inc. was formerly known as USA Technologies Inc.

Where is Cantaloupe, Inc. headquartered?

Cantaloupe, Inc.'s principal executive offices are located at 101 Lindenwood Drive, Suite 405, Malvern, Pennsylvania 19355.

What is the SIC code for Cantaloupe, Inc.?

The Standard Industrial Classification (SIC) code for Cantaloupe, Inc. is 3578, which corresponds to CALCULATING & ACCOUNTING MACHINES (NO ELECTRONIC COMPUTERS).

Filing Stats: 1,101 words · 4 min read · ~4 pages · Grade level 10.8 · Accepted 2025-02-05 16:04:04

Key Financial Figures

  • $30 million — The 2025 Credit Facility provides for a $30 million secured revolving credit facility (the
  • $40 million — lity (the "2025 Revolving Facility"), a $40 million secured term loan facility (the "2025 T
  • $100 million — aw Term Loan Facility"), for a total of $100 million. Proceeds from the 2025 Term Loan Facil
  • $37.3 m — h had total remaining net borrowings of $37.3 million, as well as accrued interest on t
  • $0.6 million — least 1.15 to 1.00. The Company paid $0.6 million in transaction fees plus certain legal

Filing Documents

01 Entry into a Material Definitive Agreement

Item 1.01 Entry into a Material Definitive Agreement. On January 31, 2025 (the "Closing Date", Cantaloupe, Inc. (the "Company"), entered into a second amended and restated credit agreement (the "2025 Credit Facility") among the Company, as the borrower, certain of its subsidiaries, as guarantors, and JPMorgan Chase Bank, N.A., as a lender and the administrative agent, and Capital One, National Association as a lender. The 2025 Credit Facility provides for a $30 million secured revolving credit facility (the "2025 Revolving Facility"), a $40 million secured term loan facility (the "2025 Term Loan Facility") and a $30 million secured delayed draw term loan facility (the "Delayed Draw Term Loan Facility"), for a total of $100 million. Proceeds from the 2025 Term Loan Facility were used to repay borrowings under the Company's prior secured revolving credit facility and secured term loan facility which had total remaining net borrowings of $37.3 million, as well as accrued interest on these facilities. The remaining proceeds from the 2025 Credit Facility may be otherwise used to finance working capital needs and for general corporate purposes (including permitted acquisitions and investments). The 2025 Delayed Draw Facility is available for a period of up to 24 months following the Closing Date. The Company has not borrowed against the 2025 Revolving Facility or the Delayed Draw Term Loan Facility. Interest on the 2025 Credit Facility will be based, at the Company's option, on a base rate or SOFR plus an applicable margin tied to the Company's total net leverage ratio and having ranges between 1.75% and 2.50% for base rate loans and between 2.75% to 3.50% for SOFR loans; provided that, until the until the third business day following the date of delivery of the quarterly consolidated financial statements for fiscal quarter ending December 31, 2024, the applicable margin shall be 1.75% for base rate loans and 2.75% for SOFR loans. The 2025 Revolving Facility will al

01 Financial Statements and Exhibits

Item 9.01 Financial Statements and Exhibits Exhibit Number Ex. Description 10.1 Second Amended and Restated Credit Agreement, by and among the Company, certain of its subsidiaries, and JPMorgan Chase Bank, N.A. and Capital One, National Association , dated January 31, 2025 . 104 Cover Page Interactive Data File (embedded within the Inline XBRL document) SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. Cantaloupe, Inc. Date: January 31, 2025 By: /s/ Anna Novoseletsky Anna Novoseletsky Chief Compliance Officer & General Counsel

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