Form 8-K - Current report
February 01 2024 - 5:17PM
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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported):
January 28, 2024
Presto Automation Inc.
(Exact name of registrant as specified in its charter)
Delaware |
|
001-39830 |
|
84-2968594 |
(State or other jurisdiction
of incorporation) |
|
(Commission File Number) |
|
(IRS Employer
Identification No.) |
985 Industrial Road
San Carlos, CA 94070
(Address of principal executive offices, including
zip code)
Registrant’s telephone number, including
area code: (650) 817-9012
Not Applicable
(Former name or former address, if changed since
last report)
Check the appropriate box below if the Form 8-K
filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
☐ |
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
|
|
☐ |
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
|
|
☐ |
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
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|
☐ |
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Securities registered pursuant to Section 12(b) of the Act:
Title of each class |
|
Trading Symbol(s) |
|
Name of each exchange on which
registered |
Common stock, par value $0.0001 per share |
|
PRST |
|
The Nasdaq Stock Market LLC |
Warrants, each whole warrant exercisable for one share of common stock |
|
PRSTW |
|
The Nasdaq Stock Market LLC |
Indicate by check mark whether the registrant
is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2
of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company ☒
If an emerging growth company, indicate by check mark
if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards
provided pursuant to Section 13(a) of the Exchange Act.
Item 5.02 Departure of Directors or Certain Officers; Election of Directors;
Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
On January 28, 2024, the board
of directors (the “Board”) of Presto Automation Inc. (the “Company” or “Presto”) increased the number
of directors that constitute the entire Board from seven directors to eight directors and appointed Matthew MacDonald to the Board. Mr.
MacDonald will serve as a Class II directors with a term expiring at the Company’s 2024 annual meeting of stockholders.
Matthew MacDonald, 39,
is a Managing Director of Erithmitic Inc, a commercial real estate bridge lending platform which he joined in June 2022. Matt is also
the founder of Cottage Avenue, a hospitality-focused investment company and a partner in Great Canadian Heli-Skiing. Matt was a
founder of Ventoux Acquisition Holdings, the co-sponsor of Ventoux CCM Acquisition Corporation, the special purpose acquisition company
that merged with Presto. Prior to co-founding Ventoux in August 2020, Mr. MacDonald worked at Hyatt Hotels Corporation
as the Vice President of Capital Strategy and Wellness Development, where he focused on acquiring hospitality companies and brands. Mr. MacDonald
joined Hyatt in January 2017 as a result of Hyatt’s acquisition of Miraval Group, a leading hospitality wellness company. Mr. MacDonald
joined Miraval Group, a KSL Capital portfolio company, as Vice President of Development in May 2016 following four years at Starwood
Hotels and Resorts. Mr. MacDonald is a graduate of the University of Denver and received a Master in Real Estate Finance from New York
University. We believe Mr. MacDonald is qualified to serve on our board of directors because of his experience in sourcing, negotiating
and executing merger transactions within the hospitality, leisure, travel and dining sectors.
There
is no arrangement or understanding between Mr. MacDonald and any other persons pursuant to which such director was selected as a director
of the Company. The Company is not aware of any transaction in which either Mr. MacDonald has an interest requiring disclosure under Item
404(a) of Regulation S-K.
Mr.
MacDonald will be entitled to compensation for service on the board on the same basis as all other non-employee directors of the Company.
SIGNATURE
Pursuant to the requirements
of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto
duly authorized.
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PRESTO AUTOMATION INC. |
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|
|
|
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By: |
/s/ Susan Shinoff |
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Name: |
Susan Shinoff |
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Title: |
General Counsel and Corporate Secretary |
Dated: February 1, 2024
v3.24.0.1
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Jan. 28, 2024 |
Document Type |
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Document Period End Date |
Jan. 28, 2024
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Entity File Number |
001-39830
|
Entity Registrant Name |
Presto Automation Inc.
|
Entity Central Index Key |
0001822145
|
Entity Tax Identification Number |
84-2968594
|
Entity Incorporation, State or Country Code |
DE
|
Entity Address, Address Line One |
985 Industrial Road
|
Entity Address, City or Town |
San Carlos
|
Entity Address, State or Province |
CA
|
Entity Address, Postal Zip Code |
94070
|
City Area Code |
(650)
|
Local Phone Number |
817-9012
|
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Common stock, par value $0.0001 per share |
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Title of 12(b) Security |
Common stock, par value $0.0001 per share
|
Trading Symbol |
PRST
|
Security Exchange Name |
NASDAQ
|
Warrants, each whole warrant exercisable for one share of common stock |
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Title of 12(b) Security |
Warrants, each whole warrant exercisable for one share of common stock
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PRSTW
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NASDAQ
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