AcquisitionsMay 27, 2026, 05:31 PM
SoundHound AI Updates LivePerson Merger Pro Forma; $300M Equity Offering
AI Summary
SoundHound AI provided updated unaudited pro forma condensed combined financial information related to its LivePerson merger and announced an equity distribution agreement. The company entered into an agreement to sell up to $300 million of Class A common stock. Additionally, the Board approved amendments to the company's bylaws, and stockholders re-elected directors and ratified the independent auditor at the 2026 annual meeting. LivePerson, the acquisition target, reported Q1 2026 revenue of $56.96 million and a net loss of $8.83 million, showing an improved loss compared to the prior year.
Key Highlights
- SoundHound AI entered an equity distribution agreement to sell up to $300,000,000 of Class A common stock.
- The Board approved Second Amended and Restated Bylaws, removing a provision related to stockholder derivative suits.
- Stockholders re-elected 5 directors and ratified PricewaterhouseCoopers LLP as the independent auditor.
- LivePerson's Q1 2026 revenue was $56.96 million, down from $64.70 million in Q1 2025.
- LivePerson's Q1 2026 net loss was $8.83 million, an improvement from $14.13 million in Q1 2025.
- LivePerson's Q1 2026 basic net loss per share was $0.73, compared to $2.32 in Q1 2025.
- LivePerson reported total current assets of $145.95 million and total liabilities of $509.08 million as of March 31, 2026.
Price Impact
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