Veritone enters $30M accounts receivable financing facility with Alterna Capital Solutions

Veritone, Inc.

Up to $30M (potential increase to $50M) for purchase of eligible accounts receivable.
Interest at prime plus 1% with floor of 9.5%; minimum annual interest $250,000; facility fee $450,000.
Three-year initial term; secured by domestic receivables and other assets of sellers and guarantors.
Certain subsidiaries guarantee obligations and grant security interest in substantially all their assets.
Prepayment penalties may apply if agreement is terminated before the three-year term.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Veritone, Inc. entered into Ledgered ABL Agreement with Alterna Capital Solutions, LLC valued at $30,000,000 (effective 2023-08-08).

Action: entry
Agreement: credit facility
Counterparty: Alterna Capital Solutions, LLC
Value: $30,000,000
Effective: 2023-08-08

Exact text from the filing

On August 8, 2023, Veritone, Inc. (the “Company”) entered into that certain Ledgered ABL Agreement (the “Ledgered ABL Agreement”), between and among the Company and its subsidiaries, Veritone One, Inc., Table Rock Management, LLC, Pandologic, Inc., Veritone Enterprises, LLC and Veritone Digital, Inc. d/b/a T3 Media (the Company and such subsidiaries, the “Sellers”), and Alterna Capital Solutions, LLC (“ACS”).

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Veritone, Inc. filing history →

Source: SEC EDGAR

accession 0000950170-23-042364

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