Veritone Inc., a leader in enterprise AI and data solutions, has announced the completion of a major debt reduction transaction, eliminating all outstanding principal under its senior secured credit facility of $31.8 million and paying down approximately 50% of its outstanding convertible notes, totaling $45.7 million. This results in a total debt reduction of about $77.5 million and lowers the company's annual debt carrying costs by over 90%, from approximately $14.0 million to $0.8 million. The transaction also frees up around $15 million in previously restricted cash and removes all senior secured debt covenants and liens, significantly improving Veritone's financial flexibility to pursue further AI-driven growth.
Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Veritone Inc. published the original content used to generate this news brief via Business Wire (Ref. ID: 20251112727452) on November 13, 2025, and is solely responsible for the information contained therein.