---
schema_version: "secwatch.filing_event.v1"
accession: "0001104659-24-030518"
form_type: "8-K"
ticker: null
cik: "0001822145"
company_name: "Presto Automation Inc."
filed_at: "2024-03-04T23:59:59+00:00"
generated_at: "2026-06-05T04:53:00.046376+00:00"
event_type: "other_material"
sentiment: "negative"
materiality_score: 0.9
calibrated_materiality_score: 0.9
confidence: "high"
source: SEC EDGAR
---

# Presto Automation raises $2.1M at $0.25/share; cash lasts only to mid-March; lender seizes $10M collateral

## Summary
- Issued 8,533,000 shares at $0.25 per share for ~$2.1M gross proceeds.
- Net proceeds sufficient only through mid-March; exploring further capital.
- $10M restricted cash collateral taken by lender, reducing loan to $51.7M principal.
- Anti-dilution adjustments increase outstanding shares from 90M to 99M plus 9M warrants at $0.01.
- Remus Capital received $960K convertible note convertible at $0.25/share.

## SEC filing metadata
- accession: 0001104659-24-030518
- form_type: 8-K
- cik: 0001822145
- company_name: Presto Automation Inc.
- filed_at: 2024-03-04T23:59:59+00:00
- event_type: other_material
- sentiment: negative
- materiality_score: 0.9
- calibrated_materiality_score: 0.9
- confidence: high
- sec_items: 1.01, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1822145/000110465924030518/0001104659-24-030518-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1822145/000110465924030518/tm246736d5_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-24-030518
- JSON: https://secwatch.observer/filing/0001104659-24-030518.json
- Plain text: https://secwatch.observer/filing/0001104659-24-030518.txt

## Key facts
- Material Agreements
  Presto Automation Inc. entered into Purchase Agreement with several investors valued at aggregate gross proceeds to the Company from the Offering approximately $2,100,000 (effective 2024-02-29).
  - Action: entry
  - Agreement: equity purchase
  - Counterparty: several investors
  - Value: aggregate gross proceeds to the Company from the Offering approximately $2,100,000
  - Effective: 2024-02-29
  source text: On February 29, 2024, Presto Automation Inc. (the “Company”) entered into a securities purchase agreements (the “Purchase Agreement”) with several investors (the “Purchasers”) relating to the issuance and sale of an aggregate of 8,533,000 shares of the Company’s common stock
  evidence_url: https://www.sec.gov/Archives/edgar/data/1822145/000110465924030518/0001104659-24-030518-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.