Veritone Shares Drop 18% After Direct Offering Prices

Dow Jones

Oct 17

By Chris Wack

Veritone shares were 18% lower, at $6.91, after the company entered into a definitive agreement for the purchase and sale of 12.9 million shares at $5.83 a share in a registered direct offering.

The closing of the registered direct offering is expected to occur Friday, subject to the satisfaction of customary closing conditions.

The technology company said it expects to see proceeds from the offering of $75 million, before deducting offering expenses.

Veritone said it intends to use the proceeds from the offering, together with its existing cash and cash equivalents, for working capital and general corporate purposes including, but not limited to, capital expenditures, debt service and repayment of indebtedness.

Veritone shares jumped 54% Wednesday after the company announced late Tuesday new contracts and preliminary third-quarter results.

Write to Chris Wack at chris.wack@wsj.com

(END) Dow Jones Newswires

October 16, 2025 13:23 ET (17:23 GMT)

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