Veritone is trading at $0.80, up 6.33% in pre-market after announcing a registered direct offering; no direct link between the offering and the rebound was provided.
- The offering of 20 million shares is expected to raise approximately $15 million before expenses and close October 2.
- Proceeds are intended partly for convertible-debt repayment or restructuring, plus working capital and general corporate purposes.
- Shares declined to $0.75 on October 1; broader markets were higher before the open, while no reliable volume data was provided.