Cubase does not work on subscription models. If he did not „renew it“, he probably had the trial version? In that case you need the full $149 version.
For the 40% off deal you need an existing full version, which you can then update or upgrade. So in your case you could buy the full elements version for $149 and then upgrade to Cubase Artist for 40% off. Or if you own a Cubase LE 4 or higher, AI version, Ou could update to Elements 10.5 with 40% discount.