- Ventoux CCM Acquisition ( NASDAQ: VTAQ ) and Presto has revised merger deal terms resulting in a $60M equity investment alongside ~$40M expected from other sources, including $13M held in Ventoux’s trust account.
- Led by Cleveland Avenue, the $60M equity injection will accelerate the deployment of Presto’s technology throughout the restaurant industry.
- The revised merger terms reflect a pre-money valuation for Presto of $525M.
- “We believe the additional capital provides a powerful vote of confidence in the business combination and will give Presto all the tools needed for an excellent start in its public life.” said Ed Scheetz, CEO & Chairman of Ventoux.
For further details see:
Ventoux CCM and Presto Automation announce $100M raise, revised valuation