Ventoux CCM Acquisition said in a news release that its sponsors, Ventoux Acquisition Holdings and Chardan International Investments, deposited $1.725 million — or 10 cents a share — into the SPAC’s trust. The funding grants the SPAC a merger deadline extension until June 30.
The SPAC has a merger agreement with Presto, a provider of restaurant labor productivity technologies.
As announced in November, the transaction will be funded by $172.5 million from the Ventoux trust account, assuming no redemptions, and a $70 million PIPE. The company is expected to add over $223.3 million of cash to its balance sheet. Read more.
