Veritone Announces Pricing of Initial Public Offering

NEWPORT BEACH, Calif., May 12, 2017 -- Veritone, Inc., a leading provider of cloud-based artificial intelligence (AI) analytics and cognitive solutions, today announced the pricing of its initial public offering of 2,500,000 shares of common stock at a public offering price of $15.00 per share. All of the shares are being offered by Veritone. The shares are scheduled to begin trading on the NASDAQ Capital Market under the ticker symbol "VERI" on Friday, May 12, 2017.

In addition, Veritone has granted the underwriters a 30-day option to purchase up to an additional 375,000 shares of common stock at the initial public offering price to cover over-allotments, if any. The offering is expected to close on May 17, 2017, subject to the satisfaction of customary closing conditions.

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.

A registration statement relating to the securities being sold in the offering was declared effective by the Securities and Exchange Commission on May 11, 2017. This offering is being made only by means of a prospectus. Copies of the final prospectus relating to this 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].

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.

About Veritone
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 trading of Veritone’s shares on NASDAQ and closing of the IPO.  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 results may differ from those projected in the forward-looking statements due to risks and uncertainties, including the Company’s ability to gain broad market acceptance of its AI platform, to add more cognitive engines and expanded functionality to its platform, and to expand its customer base and reach other vertical markets, as well as to general market and economic conditions, and as a result of other risk factors that are described more fully in Veritone’s registration statement on Form S-1 that was 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.

Company Contact:
Pete Collins, CFO
Veritone, Inc.
(888) 507-1737
[email protected]

Investor Relations Contact:
Scott Liolios and Matt Glover
Liolios Group, Inc.
(949) 574-3860
[email protected]