SoundHound AI, Inc. has announced the mandatory automatic conversion of its Series A Convertible Preferred Stock into Class A common stock. This conversion affects the remaining holders of 58,574 shares of Series A Preferred Stock, following the conditions set forth in the Certificate of Designations being met. The trigger for this conversion was the company's Class A common stock achieving a daily volume-weighted average closing price of at least $2.50 for 90 trading days within a 120 consecutive trading day period starting February 14, 2024. As a result, 2,134,631 shares of Class A common stock are expected to be issued to the holders of the Series A Preferred Stock. The conversion, which took place on June 24, 2024, will result in no shares of Series A Preferred Stock remaining outstanding. The announcement was made in a Current Report on Form 8-K filed with the SEC, and the conversion is in line with the terms described in the Certificate of Designations filed with the State of Delaware.

SoundHound AI, Inc. has announced the mandatory automatic conversion of its Series A Convertible Preferred Stock into Class A common stock. This conversion affects the remaining holders of 58,574 shares of Series A Preferred Stock, following the conditions set forth in the Certificate of Designations being met. The trigger for this conversion was the company's Class A common stock achieving a daily volume-weighted average closing price of at least $2.50 for 90 trading days within a 120 consecutive trading day period starting February 14, 2024. As a result, 2,134,631 shares of Class A common stock are expected to be issued to the holders of the Series A Preferred Stock. The conversion, which took place on June 24, 2024, will result in no shares of Series A Preferred Stock remaining outstanding. The announcement was made in a Current Report on Form 8-K filed with the SEC, and the conversion is in line with the terms described in the Certificate of Designations filed with the State of Delaware.