Veritone Inc (VERI)

[GBR]

The Commitment Letter provides that the closing of the Term Loan is conditioned on, among other things, the Company having unrestricted cash and cash equivalents of at least $55 million immediately prior to the funding of the Term Loan on the closing date and satisfaction of certain other conditions. The Commitment Letter will expire on December 15, 2023 if the Term Loan has not been consummated on or prior to that date. The Lenders will select a third party to serve as the sole administrative agent, collateral agent, and documentation agent in connection with the Term Loan.



Where are they going to get $55M in unrestricted cash?