Veritone Inc (VERI)

[GBR]

I know that handing out 3M in warrants at a 2.5 strike is a better deal for the lenders than the convertible notes being convertible at 36/sh.

But the fact is, the original convertible notes were convertible into 5.5M shares. Now, the remaining convertible notes are convertible into 2.5M shares, plus the 3M in warrants = 5.5M. So the debt restructuring did not increase the possible number of shares outstanding.