SoundHound AI (SOUN) filed a registration statement Tuesday with the US Securities and Exchange Commission covering the potential sale of up to $500 million of securities in one or more offerings from time to time.
The registration statement includes a sale agreement to implement a $250 million at-the-market offering program, the company said.
The filing covers class A common stock, preferred stock, purchase contracts, warrants, subscription rights, depositary shares, debt securities and units.
SounHound plans to use the proceeds for general corporate purposes, including investing in and acquiring synergistic and complementary businesses and working capital.
Shares of the company were down 4.2% in recent trading.
Price: 13.49, Change: -0.59, Percent Change: -4.16
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