Archimedes Tech SPAC Partners said its registration statement on Form S-4 in connection with the proposed merger with SoundHound has been declared effective by the SEC.
Archimedes shareholders are set to vote on the deal April 26. The transaction values the combined enterprise at $2.1 billion.
If approved, SoundHound AI would list on the Nasdaq under SOUN.
SoundHound has developed an independent voice AI platform that allows businesses across industries to integrate intelligent conversational voice assistants into their products.
As announced in November, the transaction is expected to deliver up to $244 million, including up to $133 million of cash held in Archimedes’ trust account, assuming no redemptions, and $111 million from a fully-committed PIPE. The PIPE is anchored by Oracle, Koch Industries, and MKaNN Ventures as well as investments by Cota Capital, VIZIO, HTC, FIH Mobile (a Foxconn Technology Group company), Structural Capital, Provco Group, Sompo, Pejman Nozad, and others. Read more.
