SoundHound AI Announces Early Debt Pay Off, Robust Cash Position, and Strengthened Financial Profile [Yahoo! Finance]
SoundHound AI, Inc. (SOUN)
Company Research
Source: Yahoo! Finance
announced that it reached an agreement with its lenders to prepay its outstanding $100 million debt in full. This agreement significantly reduces the early payment costs and enables SoundHound to save over $55 million of interest and fees that would have been due over the remaining duration of the loan. The transaction also frees up approximately $14 million of restricted cash. After paying off the existing debt, SoundHound has a cash balance of about $180 million and no outstanding debt, giving the company ample flexibility and a strong liquidity position. "With the massive opportunity to deliver innovative AI around the world, our strong net cash position has meaningfully improved our financial profile," said Nitesh Sharan, CFO at SoundHound AI. We now have a capital structure free of debt, which will allow us to move even more nimbly to capture the increasing customer demand for our voice AI solutions. About SoundHound AI SoundHound AI (Nasdaq: SOUN), a global leader in c
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SOUN
News
- Why Do Analysts Have a Bullish Outlook on SoundHound AI, Inc. (SOUN)? [Yahoo! Finance]Yahoo! Finance
- SoundHound (SOUN) Aids Restaurant Portfolio With Acquisitions [Yahoo! Finance]Yahoo! Finance
- Nvidia Gobbled Up Shares of This Artificial Intelligence (AI) Company. Is It Too Late to Buy? [Yahoo! Finance]Yahoo! Finance
- SoundHound AI, Inc. (SOUN) Declines More Than Market: Some Information for Investors [Yahoo! Finance]Yahoo! Finance
- SoundHound AI Acquires Ordering Platform Allset to Fast-Track Its Vision of a Voice Commerce Ecosystem [Yahoo! Finance]Yahoo! Finance
SOUN
Earnings
- 5/9/24 - Beat
SOUN
Sec Filings
- 6/24/24 - Form 4
- 6/24/24 - Form 4
- 6/24/24 - Form 4
- SOUN's page on the SEC website