Ventoux CCM Acquisition filed a definitive proxy and scheduled a June 16 meeting for shareholderrs to vote on its proposed merger 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.
The SPAC’s sponsors, Ventoux Acquisition Holdings and Chardan International Investments, last month deposited $1.725 million (10 cents a share) into the SPAC’s trust. The funding granted the SPAC a merger deadline extension until June 30. Read more.
