By Sabela OjeaPresto Technologies said it has enough financial resources to sustain its operations through the end of February, but that it's in talks with potential investors to raise capital. The company on Friday said that it needs to raise at least $6 million on or before March 8 to receive additional forbearance from its lender. On Monday, the company entered into securities purchase agreements with several investors relating to the issuance and sale of subordinated notes of $6 million for a cash investment of $6 million, and subordinated notes of $3 million in exchange for forfeiting shares of its common stock. Write to Sabela Ojea at sabela.ojea@wsj.com; @sabelaojeaguix(END) Dow Jones Newswires02-02-24 1822ET

Source: Wall Street Journal February 02, 2024 23:26 UTC