Archimedes Tech SPAC Partners Co - Units (1 Subunit & 1/4 War)

:ATSPU   10:48:23 AM EDT
10.12
+0.02 (+0.20%)
Exchange Changes, Mergers / Acquisitions

Soundhound Inc To Become Publicly Traded Through Proposed Merger With Archimedes Tech Spac Partners Co

Published: 11/16/2021 12:37 GMT
Archimedes Tech SPAC Partners Co - Units (1 Subunit & 1/4 War) (ATSPU) - Soundhound Inc., Global Leader in Voice Ai Technology, to Become Publicly Traded Through Proposed Merger With Archimedes Tech Spac Partners Co.
Soundhound Inc- Transaction Values Soundhound at a Pro-forma Enterprise Value of Approximately $2.1 Billion.
Soundhound Inc - Combined Company Will Be Called Soundhound Ai, Inc. and is Expected to Be Publicly Listed on Nasdaq Under Symbol Soun.
Soundhound Inc- Transaction Provides Up to $244 Million in Gross Proceeds.
Soundhound Inc - Following Completion of Transaction, Soundhound Will Retain Its Management Team.
Soundhound- Transaction Gross Proceeds Includes $133 Million From Archimedes' Cash-in-trust and $111 Million From a Fully-committed Common Equity Pipe.
Soundhound Inc - Pipe is Anchored by Oracle, Koch Industries, and Mkann Ventures.
Soundhound Inc - Pipe Also Includes Investments by Cota Capital, Vizio, Htc, Fih Mobile, Structural Capital, Provco Group, Others.
Soundhound Inc - As Part of Transaction, Outstanding Equity of Soundhound Will Be Converted Into Equity of Combined Company.
Soundhound Inc - All Cash Remaining on Archimedes' Balance Sheet at Closing, Expected to Remain on Soundhound's Balance Sheet for Working Capital.