Ventoux CCM Acquisition Corp. announced that it has entered into a non-binding letter-of-intent for gross proceeds of $55 million term loan on September 9, 2022. The transaction will include participation from Metropolitan Partners Group Management, LLC.

The loan will bear interest at 15% payable monthly in cash, provided that for the first six months the company may choose to pay 100% of the interest in kind and, for the following 12 months the company may elect to pay 50% of the interest in kind. The Loan will mature thirty months following the closing. The company prepay the loan at any time, but if such prepayment is prior to the 18 month anniversary of the closing date, it must include an amount of interest and fees that would have accrued up until such anniversary.

The lender will receive 1,500,000 warrants to purchase shares of company common stock that are nonredeemable, exercisable on a cashless basis and have an exercise price of $11.50 per share, among other terms to be described in an amended and restated warrant agreement that will be entered in connection with the closing, 600,000 shares of company common stock.