SoundHound AI has fully repaid its $100 million term loan facility ahead of its original April 2027 maturity date. The company paid $105 million, including a $5 million prepayment premium, to terminate the Credit Agreement with ACP Post Oak Credit II LLC and BPI Credit 5, LLC on June 7, 2024.Following the loan repayment, SoundHound maintains a strong financial position with approximately $180 million in cash and no outstanding debt. This includes $14 million of previously restricted cash that has become unrestricted. The company expects to record a one-time charge of approximately $16 million in Q2 2024 related to the debt extinguishment, prepayment premium, legal fees, and acceleration of non-cash amortization charges.

SoundHound AI has fully repaid its $100 million term loan facility ahead of its original April 2027 maturity date. The company paid $105 million, including a $5 million prepayment premium, to terminate the Credit Agreement with ACP Post Oak Credit II LLC and BPI Credit 5, LLC on June 7, 2024.Following the loan repayment, SoundHound maintains a strong financial position with approximately $180 million in cash and no outstanding debt. This includes $14 million of previously restricted cash that has become unrestricted. The company expects to record a one-time charge of approximately $16 million in Q2 2024 related to the debt extinguishment, prepayment premium, legal fees, and acceleration of non-cash amortization charges.