Veritone, Inc. (NASDAQ: VERI) has just announced an equity offering of $75 million, with an aggregate of 12,864,494 shares of common stock being sold at a purchase price of $5.83 per share. The company expects to use the net proceeds from the offering, along with its existing cash and cash equivalents, for working capital, general corporate purposes, capital expenditures, debt service, and repayment of indebtedness.
This registered direct offering is expected to close on or about October 17, 2025, subject to customary closing conditions, and is being facilitated by Needham & Company as the sole placement agent for certain investors.
The offering is being made under a "shelf" registration statement on Form S-3 (file no. 333-280148) that was filed with the Securities and Exchange Commission (SEC) on June 12, 2024, and became effective on June 21, 2024. The company has stated that the securities being offered will be sold pursuant to this registration statement.
Veritone, known for building human-centered enterprise AI solutions, serves customers in various industries, including media, entertainment, public sector, and talent acquisition. The company's software and services aim to empower individuals at major brands to run more efficiently, accelerate decision making, and increase profitability.
The press release did not contain any specific financial metrics or comparisons to previous periods. Today the company's shares have moved 53.66% to a price of $8.39. For more information, read the company's full 8-K submission here.
