Presto Unlocks Approximately $20M Of Cash In PIPE Transaction
Portfolio Pulse from Benzinga Newsdesk
Presto Automation Inc. (NASDAQ:PRST) has entered into commitments for a $10 million common equity PIPE and negotiated changes to its credit facility with Metropolitan Partners Group. The funding will support the growth of Presto Voice AI platform and the commercialization of the Flex product platform.
May 22, 2023 | 1:30 pm
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POSITIVE IMPACT
Presto Automation's $10 million PIPE and credit facility changes will support the growth of its Presto Voice AI platform and the commercialization of the Flex product platform.
The $10 million PIPE and credit facility changes will provide Presto Automation with additional financial resources to support the growth of its Presto Voice AI platform and the commercialization of the Flex product platform. This is likely to have a positive impact on the company's stock price in the short term as it demonstrates investor confidence and enables the company to capitalize on market opportunities.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100