10:43 AM EDT, 06/30/2025 (MT Newswires) -- Veritone ( VERI ) said Monday it has struck a deal to sell almost 6.5 million shares at $1.09 per share to investors in a registered direct offering.

The issue includes pre-funded warrants to buy up to about 1.8 million shares at $1.08 per warrant, the company said. It expects to close the offering July 2.

Esousa Group, an existing investor, led the offering with a $6 million investment in stock and pre-funded warrants, Veritone ( VERI ) said. The firm added that it has issued shares to Chief Executive Officer, Ryan Steelberg, for gross proceeds of $1 million.

Veritone ( VERI ) said it plans to use the net proceeds for working capital and general corporate purposes.

Shares were down more than 11% in recent trading.

Price: 1.27, Change: -0.16, Percent Change: -10.92