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Veritone to buy back $50 million of 1.75% convertible notes due 2026
Chicago, Nov. 8 – Veritone, Inc. said that it would be buying back $50 million principal amount of its 1.75% convertible senior notes due 2026, according to an 8-K filing.
The notes being repurchased are held by certain funds managed by Highbridge Capital Management, LLC and certain other entities.
The noteholders who are selling back their notes are also providing a senior secured term loan to Veritone for $77.5 million.
The convertibles will be repurchased at 75, plus accrued interest to the closing date.
Veritone is a Denver-based AI software and services company.
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