Veritone, Inc. (NASDAQ: VERI) has entered into a definitive agreement to sell 20,000,000 shares of common stock in a registered direct offering, with gross proceeds expected to reach approximately $15.0 million before deducting offering expenses.

The closing of the offering is expected to occur on or about October 2, 2026, subject to customary closing conditions. Needham & Company and A.G.P/Alliance Global Partners served as co-placement agents for the transaction.

According to the company's press release, Veritone intends to use the net proceeds, along with existing cash and cash equivalents, to repay and/or restructure a portion of its convertible debt, and for working capital and general corporate purposes.

The shares are being offered under a shelf registration statement on Form S-3 that was originally filed with the Securities and Exchange Commission on June 12, 2024, and became effective on June 21, 2024.