Presto (PRST) Raises $6M, Wins Final Appeal Against XAC

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Go back to Presto (PRST) Raises $6M, Wins Final Appeal Against XAC

Presto Automation Raises $6.0 Million and Wins Final Appeal in Case Against XAC

February 12, 2024 10:04 AM EST

SAN CARLOS, Calif., Feb. 12, 2024 (GLOBE NEWSWIRE) -- Presto Automation Inc. (Nasdaq: PRST) (Presto or the Company), one of the largest AI and automation technology providers to the restaurant industry, today announced it has closed a financing led by its existing investors, including Remus Capital, a fund controlled by the Companys Chairman, Krishna K. Gupta, and other investors, involving the sale of $6.0 million of convertible subordinated notes (the Notes). One of the existing investors is also exchanging 3.0 million shares of the Companys common stock which was purchased on November 21, 2023 for $3.0 million of Notes.... More