Archimedes Tech (NASDAQ:ATSPT) announced this morning that its shareholders have voted to approve its combination with voice AI firm SoundHound in a special meeting held yesterday.
The press release gave limited details on the transaction, including redemptions, but ATSPT traded below its trust value throughout its redemption deadline on Friday, April 22.
Archimedes Tech recently added $2 million to their PIPE for its combination with SoundHound, bringing the deal’s total PIPE proceeds to $113 million. The SPAC entered into a subscription agreement with an accredited investor on April 9, to which the new subscriber agreed to purchase 200,000 shares of Class A Common Stock of Archimedes, at a purchase price of $10.00 per share. The original PIPE of $111 million already covered the deal’s $111 million minimum cash condition, but the additional investment will provide extra cushion in a high redemption environment.
The transaction closed today and the combined company, called SoundHound AI, Inc., will begin trading on Nasdaq under the new ticker symbol “SOUN” on April 28, 2022.
The parties initially announced the $2.1 billion combination on November 16, 2021. Santa Clara, California-based SoundHound provides AI-powered voice engagement tools for a wide range of companies including car manufacturers and device-makers.
SoundHound was recently named Frost & Sullivan Best Practices Company of the Year in North American Automotive Connected Voice Assistance Industry and expanded its leadership team with new executive appointments, including Nitesh Sharan, Chief Financial Officer, and Zubin Irani, Chief Revenue Officer.
ADVISORS
- Guggenheim Securities, LLC is serving as exclusive financial advisor and capital markets advisor to SoundHound.
- Ellenoff Grossman & Schole, LLP is serving as legal advisor to SoundHound.
- EarlyBirdCapital, Inc. is serving as financial advisor and Loeb & Loeb is serving as legal advisor to Archimedes.


Cayson Acquisition Corp. (NASDAQ:CAPN) has entered into a definitive agreement to combine with boutique investment firm Mango Financial for $300 million in equity consideration. Hong Kong-based Mango provides a range of M&A and equity capital markets advisory services to clients considering listings in China and the US. The combined company is expected to trade on...
Trailblazer (NASDAQ:BLZRU) has filed for a $200 million SPAC to bring a first-time team to market with serial sponsor terms. The new SPAC is offering investors a 1/3 warrant in each unit and it is the first SPAC filed so far this month with 24 months on its initial transaction clock. All other July SPACs...
This week, we speak with Kyivstar CEO Oleksandr Komarov about the company’s $2.2 billion dollar combination with Cohen Circle Acquisition Corp. I (NASDAQ:CCIR). Few companies have been had to forge themselves in the flames recently quite like Ukraine’s leading telecom and digital services provider Kyivstar. Now, Kyivstar is not only telling that story but pitching it to...
At the SPAC of Dawn The market still has one full trading session before it adds Tuesday’s Core CPI reading and a variety of Fed comments to messaging it is already ingesting on US President Donald Trump’s ever-shifting tariff policy. SPACs are meanwhile continuing on with business as usual, with Cayson (NASDAQ:CAPN) announcing the third...
Terms Tracker for the Week Ending July 11, 2025 Welcome to our weekly column where we discuss the findings from our IPO terms tracker based on the previous week’s pricings. One more IPO priced this week bringing July’s total to 8. However, there are still three more weeks left in the month so that number...