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Wednesday, March 27, 2024 8:43:05 AM
Ryan purchased over 550k shares at around 7 bucks in August and September 2022. That's only a year and a half ago. And he bought 50K shares back in November 23 for 2 bucks.
When RS purchased the 550k shares, he knew Veritone was going to switch strategy. He knew CS was going to step down, and he knew they would be spending a year or more on a new aiWare roadmap.
But you are right, no insider had taken advantage of the opportunity to acquire the shares when they were under 2 bucks.
But also, never any sales. RS and CS sold some shares a couple years ago strictly for tax purposes and that's it. And if you think that no insiders were buying the shares under 2 bucks because the outlook was gloomy, then why are we not seeing any insider sales now that the stock is rocketing?
Meanwhile, Soundhound insiders can't sell their shares fast enough. Lots of sales at Bigbear.AI. C3 insiders perpetually selling their shares, never buying.
"Things got so bad just a few short months ago that they had to make a usury loan at 14.5% in exchange for their 1.75% debt and had to give away almost 10% of the company."
That debt restructuring was an agreement between Veritone and the convertible note holders. Yes, they exchanged low interest rate debt with high interest rate debt, but if that is to be pointed out, then it is only fair to point out that Veritone has been able to retire a large percentage of the convertible debt at a significant discount. So yeah they are paying a higher interest rate on the new debt, but bought back debt at a discount. Yeah they gave out 3M in warrants, around 7.5% of the company, but that was in exchange for the exact same number of convertible shares that were retired, so it's a wash.
Recent VERI News
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 06/18/2024 08:54:03 PM
- Form 3 - Initial statement of beneficial ownership of securities • Edgar (US Regulatory) • 06/18/2024 08:52:09 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 06/17/2024 09:00:17 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 06/17/2024 09:00:14 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 06/17/2024 09:00:11 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 06/14/2024 08:07:27 PM
- Veritone Announces Appointment of Michael Keithley to Board of Directors • Business Wire • 06/13/2024 08:00:00 PM
- Form S-3 - Registration statement under Securities Act of 1933 • Edgar (US Regulatory) • 06/12/2024 08:53:10 PM
- Veritone AI-Powered Solutions for Public Sector Now Available in AWS Marketplace • Business Wire • 05/21/2024 11:00:00 AM
- Veritone Announces Strategic Partnership with Creative Artists Agency for the Launch of theCAAvault • Business Wire • 05/14/2024 11:00:00 AM
- Form 10-Q - Quarterly report [Sections 13 or 15(d)] • Edgar (US Regulatory) • 05/10/2024 08:03:07 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 05/07/2024 08:42:19 PM
- Veritone Reports First Quarter 2024 Results • Business Wire • 05/07/2024 08:41:00 PM
- Veritone Launches AI Consulting and Services Group, Achieves AWS Advanced Tier Services Partner Status • Business Wire • 05/07/2024 11:00:00 AM
- Veritone and OPEXUS Team Up to Provide AI Solutions to National Canadian Bank • Business Wire • 04/30/2024 11:00:00 AM
- Veritone Clinches 2024 NAB Product of the Year Award for a Fifth Time with Generative AI Solution • Business Wire • 04/17/2024 08:30:00 PM
- Veritone to Hold First Quarter 2024 Results Conference Call on May 7th • Business Wire • 04/11/2024 08:15:00 PM
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- Veritone to Showcase Innovative AI Solutions, Including New Ask Veri Tool, at the 2024 NAB Show • Business Wire • 04/03/2024 11:00:00 AM
- Broadcast Media Has a Measurement Issue; Can AI Solve It? • Business Wire • 04/02/2024 11:00:00 AM
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- Veritone Reports Fourth Quarter and Fiscal Year 2023 Results • Business Wire • 03/12/2024 08:10:00 PM
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