Presto Automation Seeks Funds to Sustain Operations

Presto Automation (PRST) has released an update.

The Company estimates that its current funds, alongside the anticipated revenues and the recent Offering’s net proceeds, will enable it to maintain operations until the end of February. It is actively seeking additional funds and is in talks with potential investors, as it needs to secure a minimum of $6 million by March 8, 2024, to meet the Forbearance Agreement conditions and gain further leniency from its Lenders.

For further insights into PRST stock, check out TipRanks’ Stock Analysis page.

For a comprehensive understanding of the announcement, you can read the full document here.