SPAC Ventoux CCM up marginally on $1 bln merger deal with Presto

National Presto Industries

10/11/2021 12:56

** Shares of blank-check co Ventoux CCM Acquisition Corp
 VTAQ.O  up nearly 0.4% at $10.10 premarket, on merger agreement
with Presto
    ** Restaurant technology co Presto to go public through $1
bln merger deal with VTAQ  urn:newsml:reuters.com:*:nBw7S5xP4a
    ** Presto offers a slew of features for hospitality
businesses - like automated speech recognition to aid guests
with placing orders and 
    ** Labor challenges in the wake of the pandemic have driven
restaurants to embrace technology, Presto says
    ** Restaurant software maker Toast Inc  TOST.N , which went
public earlier this year, now has a market capitalization of
$30.5 bln, according to data from Refinitiv
    ** Presto's deal includes a PIPE (private investment in
public equity) of nearly $70 mln, companies say
    ** Apollo Projects, the venture capital firm of Sam Altman
and Max Altman, also investing in the deal - statement
    ** Jefferies was the adviser to Presto, while Chardan and
William Blair & Co advised Ventoux
    ** SPAC went public in December last year

 (Reporting by Niket Nishant in Bengaluru)
 ((Niket.Nishant@thomsonreuters.com;))