Presto Automation poised to debut, jumps after SPAC merger

Presto Automation

22/09/2022 11:51

** Presto Automation Inc  PRST.O  to make public debut on
Thurs with restaurant technology firm's shares up 65% at $8.38
premarket after SPAC merger
    ** Presto begins trading under ticker "PRST" after closing
business combination with special-purpose acquisition company
Ventoux CCM Acquisition Corp (VTAQ)  urn:newsml:reuters.com:*:nBw8nyKJja
    ** The $1 bln deal originally announced last Nov, then
revised to $525 mln in July, to bring Presto $120 mln (See July
securities filing)
    ** Presto offers features including automated speech
recognition to aid guests with placing orders and touch
solutions to enable staff to serve more customers more quickly
    ** VTAQ shares closed at $5.08 on Weds
    ** Jefferies was advisor to Presto, while Chardan Capital
Markets and William Blair & Co advised the SPAC
 (Lance Tupper is a Reuters market analyst. The views expressed
are his own)
 ((lance.tupper@thomsonreuters.com
lance.tupper@tr.com 1-332-219-1430))