Veritone, Inc. (VERI), a provider of AI technology solutions, Thursday said it has agreed to sell 8.02 million shares or pre-funded warrants in lieu thereof, at $2.53 per share or $2.52 per pre-funded warrant to Esousa Group Holdings, LLC.
The company intends to use net proceeds from the offering of about $20.3 million for working capital and general corporate purposes.
The pre-funded warrants which are immediately exercisable, have an exercise price of $0.01 with a 5-year term.
The closing of the offering is expected by January 3, 2025.
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