Veritone Enters into Sales Agreement for Common Stock Offering

On November 19, 2024, Veritone, Inc. (NASDAQ: VERI) announced that it has entered into a sales agreement with Needham & Company, LLC and H.C. Wainwright & Co., LLC, acting as sales agents. This agreement allows Veritone to offer and sell its common stock through these sales agents as per its discretion. The common stock offering will be made in accordance with the company’s registration statement on Form S-3 and the related prospectus supplement, both filed with the U.S. Securities and Exchange Commission (SEC) on June 21, 2024, and November 19, 2024, respectively.

Under the terms of the Sales Agreement, Veritone may offer and sell shares of its common stock with an aggregate offering price of up to $35.0 million through the Sales Agents. The offering will be conducted as an “at-the-market” equity offering, permitting sales on The Nasdaq Global Market or any other market where Veritone’s common stock is listed. The Sales Agents will strive to sell the shares based on Veritone’s instructions, with a compensation of up to 3.0% of the gross sales price and reimbursement for certain expenses.

Veritone is not obligated to make any sales of common stock under this agreement. The offering will cease under certain conditions, including the Sales Agents electing to terminate, advanced notice from either party, or mutual agreement. The Sales Agreement is attached to the 8-K filing as Exhibit 1.1, providing transparency for investors regarding the terms and conditions of the agreement.

This offering does not constitute a solicitation of an offer to buy Veritone’s common stock nor will it be conducted where unlawful. Investors should consider this announcement in conjunction with Veritone’s periodic reports and filings with the SEC. For additional legal opinions on the matter, refer to the filed Exhibit 5.1. Veritone anticipates the opportunity to leverage this agreement while maintaining diligent financial disclosure practices.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read Veritone’s 8K filing here.

About Veritone

Veritone, Inc, together with its subsidiaries, engages in the provision of artificial intelligence (AI) computing solutions and services in the United States, the United Kingdom, France, Australia, Israel, and India. It develops and operates aiWARE platform, an AI operating system, that uses machine learning algorithms or AI models designed to mimic human cognitive functions, such as perception, prediction, and problem solving and optimization, as well as enables users to transform unstructured data into structured data, and analyze and optimize data to drive business processes and insights.