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VERI

Veritone

$5.62

-0.09 (-1.58%)

08:03
12/10/18
12/10
08:03
12/10/18
08:03

Apis Capital proposes to acquire Veritone for $10.26 per share in cash

Apis Capital announced that its private equity fund, Apis Ventures, has submitted an all-cash offer to the Board of Directors of Veritone to acquire all of the outstanding shares of Veritone for $10.26 per share. As a result of careful consideration of the opportunity, Apis has increased its initial offer and has communicated this offer in the Letter to the Board attached below. This offer represents a 93% premium over the closing price of Veritone Common Stock on December 4, 2018, the date of Apis's initial private written proposal to Veritone, and an 82% premium over the closing price on December 7, 2018, the last trading day prior to this announcement, with a total equity value of approximately $198M. Apis Capital Management believes that there are no regulatory impediments to the proposed transaction and that it will receive all necessary approvals and be completed by March 2019. Apis Capital Management has engaged in an initial productive discussion with Veritone to explore the merits and potential terms of a transaction, yet Veritone has stalled in moving forward with substantive discussions. Apis looks forward to continuing to work with Veritone to complete this transaction in an expeditious manner, for the benefit of the shareholders. The proposal is subject to confirmatory due diligence and negotiation of definitive documentation.

VERI Veritone
$5.62

-0.09 (-1.58%)

11/14/18
CHLM
11/14/18
NO CHANGE
Target $14
CHLM
Buy
Veritone price target lowered to $14 from $22 at Craig-Hallum
Craig-Hallum analyst Chad Bennett lowered his price target for Veritone to $14 from $22, while reiterating a Buy rating on the shares. The analyst notes that the stock is currently near all-time lows, but believes further execution on revenue growth and EBITDA improvement should provide meaningful upside to investors from current levels.
11/13/18
11/13/18
UPGRADE

On The Fly: Top five analyst upgrades
Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. Veritone (VERI) upgraded to Neutral from Sell at B. Riley FBR with analyst Sameet Sinha citing the company's better than expected Q3 results and increased business visibility for the upgrade to Neutral. 2. Nvidia (NVDA) upgraded to Positive from Neutral at Susquehanna while Xilinx (XLNX) was upgraded to Positive from Neutral. 3. Koppers Holdings (KOP) upgraded to Buy from Neutral at Monness Crespi. 4. Southwestern Energy (SWN) upgraded to Neutral from Underperform at BofA/Merrill with analyst Doug Leggate saying U.S. natural gas prices have lifted by 50c in the past 3 weeks and $1 since September as cold weather forecasts have been updated. 5. SailPoint (SAIL) upgraded to Buy from Neutral at Goldman Sachs. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
11/13/18
DADA
11/13/18
NO CHANGE
Target $12
DADA
Buy
Veritone price target lowered to $12 from $22 at DA Davidson
DA Davidson analyst Thomas Diffely lowered his price target on Veritone to $12, citing "more conservative adjustments" to his future financial model that features lower than anticipated margins and higher share counts. The analyst keeps his Buy rating on the company, pointing to its "robust organic growth across both AI and Media Agency divisions along with the doubled revenue base coming from its recent acquisitions. Diffely maintains his view of Veritone's fundamental advantages of aiWARE uniquely positioning it "as a direct beneficiary of the explosion in AI use cases and applications".
11/13/18
ROTH
11/13/18
NO CHANGE
Target $15
ROTH
Buy
Veritone price target lowered to $15 from $20 at Roth Capital
Roth Capital analyst Darren Aftahi lowered his price target for Veritone to $15 from $20, while reiterating a Buy rating on the shares. The analyst notes the company beat Q3 expectations and was encouraged to see bottom line progress while Wazee integration resulted in a new customer win for combined DAM/DHS/AI. Veritone began to make progress on the law enforcement vertical, which should add another layer of AI growth, although still in its early days, he adds.

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AMZN

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CNC

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CVS

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HUM

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UNH

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WCG

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HNT

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$0.00

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MOH

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ANTM

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HCA

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CYH

Community Health

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LPNT

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UHS

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THC

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$30.55

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GM

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FCAU

Fiat Chrysler

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TM

Toyota

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F

Ford

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HMC

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VWAGY

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BMWYY

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MDCO

The Medicines Co.

$51.92

1.03 (2.02%)

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CVET

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CWK

Cushman & Wakefield

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LMT

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ESCA

Escalade

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TEUM

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HEXO

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AMGN

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RAVE

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CHAP

Chaparral Energy

$0.89

-0.0521 (-5.52%)

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CI

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WCG

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HNT

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MOH

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ANTM

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LPNT

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UHS

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NVDA

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MSFT

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UAA

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UA

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AMRN

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GOOG

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RH

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FTCH

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THC

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TORC

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ACB

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NYT

New York Times

$31.60

0.44 (1.41%)

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WEX

Wex

$200.52

4.61 (2.35%)

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