Ventoux

Presto, One of the Largest Labor Automation Technology Providers for the Hospitality Industry, to Become Publicly Traded Following Business Combination with Ventoux CCM Acquisition Corp.

Retrieved on: 
Wednesday, September 21, 2022

Presto Automation Inc. (Presto or the Company), one of the largest labor automation technology providers in the hospitality industry, today announced that it completed its previously announced business combination with Ventoux CCM Acquisition Corp. (Ventoux), a publicly traded special purpose acquisition company, on September 21, 2022.

Key Points: 
  • Presto Automation Inc. (Presto or the Company), one of the largest labor automation technology providers in the hospitality industry, today announced that it completed its previously announced business combination with Ventoux CCM Acquisition Corp. (Ventoux), a publicly traded special purpose acquisition company, on September 21, 2022.
  • Presto offers a platform of comprehensive voice, vision, and touch solutions designed to increase staff productivity and improve the guest experience.
  • This is an incredibly exciting time for Presto as we complete our business combination with Ventoux and become a public company, said Raj Suri, Founder and CEO of Presto.
  • With over 250,000 systems shipped, Presto is one of the largest labor automation technology providers in the industry.

Ventoux CCM Acquisition Corp. Stockholders Approve Proposed Business Combination with Presto

Retrieved on: 
Wednesday, September 14, 2022

Ventoux CCM Acquisition Corp. (Ventoux) (NASDAQ: VTAQ), a publicly traded special purpose acquisition company, today announced that Ventouxs stockholders have approved its proposed merger with E La Carte (d/b/a Presto) (Presto), one of the largest labor automation technology providers in the hospitality industry, at a Special Meeting of its stockholders held on September 14, 2022.

Key Points: 
  • Ventoux CCM Acquisition Corp. (Ventoux) (NASDAQ: VTAQ), a publicly traded special purpose acquisition company, today announced that Ventouxs stockholders have approved its proposed merger with E La Carte (d/b/a Presto) (Presto), one of the largest labor automation technology providers in the hospitality industry, at a Special Meeting of its stockholders held on September 14, 2022.
  • The closing of the business combination is expected to take place on September 20, 2022.
  • About Ventoux CCM Acquisition Corp.
    Ventoux is a special purpose acquisition company formed for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses.
  • In connection with the proposed business combination involving Ventoux and Presto, Ventoux has filed a registration statement, which includes a proxy statement/prospectus, with the SEC.

Ventoux CCM and Presto Automation Announce $100 Million Raise, Revised Valuation

Retrieved on: 
Tuesday, July 26, 2022

Ventoux CCM Acquisition Corp. (Ventoux) (NASDAQ: VTAQ) and Presto today announced revised merger deal terms resulting in a $60 million equity investment alongside approximately $40 million expected from other sources, including $13 million held in Ventouxs trust account assuming no redemptions, into their previously announced business combination which will result in Presto becoming a publicly traded company.

Key Points: 
  • Ventoux CCM Acquisition Corp. (Ventoux) (NASDAQ: VTAQ) and Presto today announced revised merger deal terms resulting in a $60 million equity investment alongside approximately $40 million expected from other sources, including $13 million held in Ventouxs trust account assuming no redemptions, into their previously announced business combination which will result in Presto becoming a publicly traded company.
  • The revised merger terms reflect a pre-money valuation for Presto of $525 million.
  • Presto welcomes Cleveland Avenue to our investor syndicate - we could not have found more aligned and strategic investors.
  • In connection with the proposed business combination involving Ventoux and Presto, Ventoux has filed a registration statement, which includes a preliminary proxy statement/prospectus, with the SEC.

Restaurant Customer Survey: 70% of Drive-Thru Customers Want More Automation as Wait Times Increase

Retrieved on: 
Tuesday, July 19, 2022

As drive-thru wait times increase and service seems to worsen, 70% of the respondents want technologies such as A.I.

Key Points: 
  • As drive-thru wait times increase and service seems to worsen, 70% of the respondents want technologies such as A.I.
  • Long wait time was identified as the biggest issue with 27% of respondents saying it has gotten significantly worse over the past year.
  • So while demand is shifting towards the drive-thru, service levels are becoming worse, leading to greater customer dissatisfaction.
  • 78% of those surveyed thought that automation technology is critical for smooth operations of a fast food restaurant.

Famous Dave's Partners With Presto to Deploy Next-Gen Pay-at-Table Technology, Boost Labor Productivity and Guest Experience

Retrieved on: 
Wednesday, April 20, 2022

Designed to provide a faster and more delightful guest experience, boost guest loyalty sign-ups and improve labor productivity, the Presto pay-at-table systems will roll-out to the corporate Famous Dave's restaurants in the United States over the next few months.

Key Points: 
  • Designed to provide a faster and more delightful guest experience, boost guest loyalty sign-ups and improve labor productivity, the Presto pay-at-table systems will roll-out to the corporate Famous Dave's restaurants in the United States over the next few months.
  • This partnership will enable Famous Dave's to provide a convenient pay-at-table experience to their guests to increase guest satisfaction, improve productivity and ultimately drive repeat visits.
  • The Presto pay-at-table system is easy to use, reliable, and enhances the guest experience by providing convenience, specifically around pay-at-table functionality.
  • Our guests and operators expect a best-in-class digital experience focused on making their lives easier and improving their overall experience, said Al Hank, Famous Dave's COO.

VENTOUX CCM ACQUISITION CORP. ANNOUNCES ADDITIONAL CONTRIBUTION TO TRUST ACCOUNT TO EXTEND DEADLINE TO CONSUMMATE BUSINESS COMBINATION

Retrieved on: 
Monday, April 4, 2022

New York, April 04, 2022 (GLOBE NEWSWIRE) -- Ventoux CCM Acquisition Corp. (NASDAQ: VTAQ) (the “Company”) announced today that its sponsors, Ventoux Acquisition Holdings LLC and Chardan International Investments, LLC (the “Sponsors”), timely deposited an aggregate of $1,725,000 (the “Extension Payment”), representing $0.10 per public share, into the Company’s trust account in order to extend the date by which the Company has to consummate a business combination from March 30, 2022, to June 30, 2022.

Key Points: 
  • The loans under the promissory notes are non-interest bearing and will be repaid upon the consummation of a business combination.
  • About Ventoux CCM Acquisition Corp.
    Ventoux is a special purpose acquisition company formed for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses.
  • VTAQ is co-sponsored by Ventoux Acquisition Holdings and an affiliate of Chardan Capital International.
  • In connection with the proposed business combination involving Ventoux and Presto, Ventoux has filed a registration statement, which includes a preliminary proxy statement/prospectus, with the SEC.

Evergreen Restaurant Group Selects Next-Gen Presto Server Assistant To Improve Labor Productivity

Retrieved on: 
Wednesday, March 2, 2022

Working seamlessly with existing point-of-sale (POS) systems, Presto Server Assistant will enable servers to enter orders, take payments, and obtain real-time feedback -- all from the palm of their hands.

Key Points: 
  • Were thrilled to be selected by the Evergreen Restaurant Group as their server assistant technology partner, said Dan Mosher, Chief Revenue Officer of Presto.
  • The deployment of Presto Server Assistant should help us increase server efficiency while enhancing customer experience, said Jeff Jones, President and CEO of Evergreen Restaurant Group.
  • Presto Server Assistant is a next-generation Android-based solution with a mobile-first design designed to address these issues.
  • Unique features of Presto Server Assistant include:
    Promotions & Upsell - Shows servers upsells, pairing options, and ongoing promotions right at the table.

Checkers & Rally’s and Presto Announce Largest Ever Rollout of Drive-Thru A.I. Voice Assistant in the Hospitality Industry

Retrieved on: 
Monday, January 10, 2022

Todays announcement marks the largest and first of its kind rollout of an A.I.-based voice assistant solution in the hospitality industry.

Key Points: 
  • Todays announcement marks the largest and first of its kind rollout of an A.I.-based voice assistant solution in the hospitality industry.
  • The Presto systems are scheduled to be deployed across all corporate-owned Checkers & Rallys restaurants in the United States in 2022.
  • In 2021, Checkers & Rallys conducted a detailed pilot program of Prestos automated voice ordering technology at multiple locations over a four-month period.
  • Checkers & Rallys desire to take the industry forward through disruptive innovation is inspiring, and Presto is fully committed to supporting this bold vision.

Ventoux CCM Acquisition Corp. and Presto Announce Confidential Submission of Registration Statement in Connection with the Proposed Business Combination

Retrieved on: 
Monday, December 20, 2021

The submission of our draft registration statement with the SEC is another step forward in our path to the successful closing of our business combination with Presto, said Ed Scheetz, CEO and Chairman of Ventoux.

Key Points: 
  • The submission of our draft registration statement with the SEC is another step forward in our path to the successful closing of our business combination with Presto, said Ed Scheetz, CEO and Chairman of Ventoux.
  • The business combination is subject to the Registration Statement being declared effective by the SEC, approval by Ventouxs shareholders, and other customary conditions.
  • In connection with the proposed business combination involving Ventoux and Presto, Ventoux intends to publicly file a registration statement, which will include a preliminary proxy statement/prospectus, with the SEC.
  • However, Ventoux, Presto, and certain of their directors and executive officers may be deemed to be participants in the solicitation of proxies in connection with the proposed business combination under the rules of the SEC.