Summary by Futu AI
On November 8, 2024, SoundHound AI, Inc. announced the initiation of an at-the-market equity program, entering into an Equity Distribution Agreement with multiple financial institutions, including Barclays Capital Inc. and Piper Sandler & Co., among others. The agreement allows SoundHound AI to offer and sell up to $120 million of its Class A common stock through these managers. The sales may occur in various transaction types, including block trades or 'at the market' offerings, and the managers will receive a 2.5% commission on the gross sales price of shares sold. The company has the discretion to sell shares and may suspend or terminate the offering at any time, with the managers having no obligation to buy or sell any shares. The offering is...Show More