Artificial intelligence company Veritone, Inc. (Nasdaq: VERI) in Costa Mesa today announced it has commenced an underwritten public offering of shares of its common stock, sending the share price tumbling in after-hours trading.
“The offering is subject to market and other conditions and there can be no assurances as to whether or when the offering may be completed, or as to the size or terms of the offering,” the company said in a statement.
Stifel is acting as the lead book-running manager for the offering, while JMP Securities and Roth Capital Partners are acting as joint book-running managers for the offering, according to the statement.
Shares in Veritone fell more than 15% to $20.61 apiece in after-hours trading.
