Veritone Slashes Debt by $77.5 Million
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Veritone Inc. has reduced its debt by $77.5 million, eliminating $31.8 million in senior secured credit facility debt and paying down 50% of its $45.7 million convertible notes. This reduces annual debt costs by over 90%, from $14 million to $0.8 million, and frees up $15 million in cash, enhancing financial flexibility for AI growth.
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