Summary by Futu AI
On August 6, 2024, SoundHound AI, Inc. completed the acquisition of Amelia Holdings, Inc., a Delaware corporation, as reported in a Current Report on Form 8-K/A filed with the SEC. The acquisition, initially reported on August 8, 2024, involved SoundHound AI acquiring all issued and outstanding shares of Amelia Holdings pursuant to a Stock Purchase Agreement dated August 6, 2024. The report amends the Original Form 8-K to include required financial statements and pro forma information. Amelia's audited consolidated financial statements for the years ended December 31, 2023, and 2022, as well as unaudited condensed consolidated financial statements for the six-month periods ended June 30, 2024, and 2023, were provided. The unaudited pro forma condensed combined financial information related to the acquisition was also attached. The acquisition resulted in SoundHound AI recognizing $66 million of intangible assets and goodwill of $107.3 million. The financial statements revealed that Amelia Holdings had been operating at a loss, raising substantial doubt about its ability to continue as a going concern. The report also included the signature of SoundHound AI's CEO, Keyvan Mohajer, dated October 22, 2024.