Cantaloupe Redeems Preferred Stock Ahead of 365 Merger

Cantaloupe ( (CTLP) ) has provided an announcement.

On May 1, 2026, Cantaloupe issued a notice that it has elected to redeem all outstanding shares of its Series A Convertible Preferred Stock immediately prior to the expected closing of its merger with 365 Retail Markets on May 8, 2026. The redemption price per preferred share is set at $62.90 as of that date, comprising $11.00 plus $51.90 in accrued and unpaid cumulative dividends, and dividends will cease to accrue after the redemption date.

Holders of the preferred shares may instead choose, at any time prior to the redemption date, to convert their preferred stock and associated accrued dividends into common stock and thereby receive the merger consideration for common shares at closing rather than the cash redemption price. The notice, which is revocable at Cantaloupe’s discretion, outlines that payment of the redemption price requires surrender of certificates and a letter of transmittal, and that any preferred stock still outstanding on the redemption date will be redeemed for cash immediately before the merger closes, altering the capital structure ahead of the transaction’s completion.

The most recent analyst rating on (CTLP) stock is a Hold with a $11.20 price target. To see the full list of analyst forecasts on Cantaloupe stock, see the CTLP Stock Forecast page.

Spark’s Take on CTLP Stock

According to Spark, TipRanks’ AI Analyst, CTLP is a Neutral.

The score is driven primarily by improved financial performance—stronger profitability and ROE with modest leverage—tempered by uneven cash conversion and historical volatility. Technicals are neutral-to-soft and do not add momentum support, while valuation appears moderate on the provided P/E. Corporate events are mildly supportive but not a major fundamental catalyst.

To see Spark’s full report on CTLP stock, click here.

More about Cantaloupe

Cantaloupe, Inc., a Pennsylvania corporation, has issued Series A Convertible Preferred Stock and common stock and is party to an Agreement and Plan of Merger dated June 15, 2025 with 365 Retail Markets, LLC. Under that deal, Cantaloupe will merge with a Catalyst MergerSub and survive as a wholly owned, indirect subsidiary of 365 Retail Markets, aligning preferred and common equity with the pending transaction.

Average Trading Volume: 1,326,120

Technical Sentiment Signal: Buy

Current Market Cap: $805M

For an in-depth examination of CTLP stock, go to TipRanks’ Overview page.