Veritone, Inc. (Nasdaq: VERI) shares were plunging -17.28 to $20.11 in the after-hour session yesterday after the Company revealed the news that it has started an underwritten public offering of its common stock.
Veritone, Inc. intends to also provide the underwriters with an option to purchase additional shares of its common stock for 30 days. No guarantees can be given as to when or whether the offering will be completed. No assurances can be given as to the size of or the terms of the offering. The offering is subject to market and other conditions.
JMP Securities and Roth Capital Partners are acting as joint book-running managers for the offering. Stifel is serving as the lead book-running manager for the offering.
The public offering will be registered with the Securities and Exchange Commission (SEC) on Form S-3, together with a base prospectus, and was declared effective on June 13, 2018.