Presto Automation Announces Pricing Of $1.2M Registered Direct Offering Of 4.8M Shares Of Common Stock A Price Of $0.25 Per Share, Above Nasdaq Minimum Price
Portfolio Pulse from Benzinga Newsdesk
Presto Automation, Inc. (NASDAQ:PRST), a leading AI and automation technology provider for the restaurant industry, announced a registered direct offering of 4.8 million shares at $0.25 per share, above the Nasdaq minimum price. The offering, facilitated by Chardan as the sole placement agent, is expected to close by March 18, 2024, pending customary closing conditions.
March 14, 2024 | 2:45 pm
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Presto Automation announces a direct offering of 4.8M shares at $0.25 each, aiming to raise $1.2M, with Chardan as the placement agent. The offering price is above the Nasdaq minimum, indicating confidence in the company's value.
The direct offering by Presto Automation is a positive signal to the market, indicating institutional investor interest and the company's ability to price its offering above the Nasdaq minimum. This could lead to a short-term positive impact on PRST's stock price as it reflects confidence in the company's future prospects and financial health. The involvement of Chardan as the sole placement agent also adds credibility to the offering.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100