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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 3, 2023

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)

Securities registered pursuant to Section 12(b) of the Act:

Title of each class

    

Trading Symbol(s)

    

Name of each exchange on which
registered

Class A 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

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))

Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

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 Chief Financial Officer.

On January 3, 2023, Ashish Gupta, the Company’s Chief Financial Officer, disclosed that he will be leaving by the end of the quarter to accept an offer from another company. Mr. Gupta successfully took the Company public on the Nasdaq Stock Market and the Company is grateful for his service during his time at the Company. The Company is in the process of searching for a successor to Mr. Gupta and all parties are working towards a smooth transition. Mr. Gupta’s departure is not a result of any disagreement with the Company on any matter relating to financial reporting, strategy, operations or policies.

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.

PRESTO AUTOMATION INC.

By:

/s/ Rajat Suri

Name:

Rajat Suri

Title:

Chief Executive Officer

Dated: January 6, 2023