Veritone, Inc., a leading provider of cloud-based artificial intelligence (AI) analytics and cognitive solutions, today announced that it has launched the roadshow for the initial public offering (IPO) of its common stock. The offering is for 1,250,000 shares, all of which are being offered by Veritone. Veritone has also granted the underwriters an option to purchase 187,500 additional shares to cover overallotments. The IPO price is currently expected to be between $14.00 and $16.00 per share. Veritone has applied to list its common stock on the NASDAQ Capital Market under the ticker symbol “VERI.”
Wunderlich is acting as the sole-book running manager of the offering, and as representative of the underwriters. Craig-Hallum Capital Group and Northland Capital Markets are acting as co-managers of the offering.
The underwriters plan to reserve up to 62,500 shares at the IPO price as part of a directed share program for individuals that will be administered by Wunderlich. The offering will be made only by means of a prospectus. A copy of the preliminary prospectus related to the offering may be obtained from: Wunderlich, Attention: Equity Capital Markets, 6000 Poplar Avenue, Suite 150, Memphis, TN 38119, by telephone at (800) 726-0557, or by email at [email protected].
A registration statement relating to these securities has been filed with the U.S. Securities and Exchange Commission (SEC) but has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
Veritone, Inc. is a leading artificial intelligence company that has developed the Veritone Platform, which unlocks the power of AI-based cognitive computing to transform and analyze unstructured public and private audio and video data for clients in the media, politics, legal and law enforcement industries. The open platform integrates an ecosystem of best-of-breed cognitive engines and powerful applications, which are orchestrated together to reveal valuable, multivariate insights from users’ data. To learn more about Veritone, please visit Veritone.com.
Safe Harbor Statement
This news release contains forward-looking statements, including without limitation statements regarding the timing of the IPO roadshow, the expected price range of shares to be sold in the IPO, and the expected use of proceeds from the offering. Without limiting the generality of the foregoing, words such as “may,” “will,” “expect,” “believe,” “anticipate,” “intend,” “could,” “estimate” or “continue” or the negative or other variations thereof or comparable terminology are intended to identify forward-looking statements. In addition, any statements that refer to expectations, projections or other characterizations of future events or circumstances are forward-looking statements. These forward-looking statements are not guarantees of future performance and are subject to certain risks, uncertainties and assumptions that are difficult to predict and many of which are beyond the control of Veritone. Actual result may differ from those projected in the forward-looking statements due to risks and uncertainties, some of which are described more fully in Veritone’s registration statement filed with the SEC. Although Veritone believes that the assumptions underlying the forward-looking statements are reasonable, any of the assumptions could prove inaccurate and, therefore, there can be no assurance that the results contemplated in forward-looking statements will be realized. In light of the significant uncertainties inherent in the forward-looking information included herein, the inclusion of such information should not be regarded as a representation by Veritone or any other person that their objectives or plans will be achieved. Veritone does not undertake any obligation to revise the forward-looking statements contained herein to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.
(317) 806-1900 ext.104