Extracted from this filing and checked against the source text.
Material Agreements
SEC 8-K Item 1.01/1.02
confidence 0.9
Presto Automation Inc. entered into Purchase Agreement with several investors (the "Purchasers") valued at aggregate gross proceeds to the Company from the Offering were approximately $1,200,000 (effective 2024-03-14).
- Action
- entry
- Agreement
- equity purchase
- Counterparty
- several investors (the "Purchasers")
- Value
- aggregate gross proceeds to the Company from the Offering were approximately $1,200,000
- Effective
- 2024-03-14
Exact text from the filing
On March 14, 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 4,800,000 shares of the Company’s common stock, par value $0.0001 per share (the “Offering”).
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Restructurings & Charges
SEC 8-K Item 2.05/2.06
confidence 0.9
Presto Automation Inc. announced a restructuring with charges of $0.4 million affecting Touch business (24 corporate roles, or 18% of the Company’s workforce).
- Type
- restructuring
- Charge
- $0.4 million
- Affected area
- Touch business
- Headcount
- 24 corporate roles, or 18% of the Company’s workforce
Exact text from the filing
reduction in force to be substantially complete by the end of the fiscal fourth quarter of 2024. Total costs and cash expenditures for the reduction in force are estimated at $0.4 million, substantially all of which are related to employee severance and benefits costs and will be recognized in the fiscal third and fourth quarter of 2024. The Company expects to pay
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