Shares of SoundHound AI, Inc. (SOUN) slipped over 8% on Tuesday after the company filed documents with the SEC offering to sell a mix of securities totaling up to $500 million.
SOUN is currently trading at $12.94, down $1.13 or $8.04%, on the Nasdaq. The stock opened its trading at $13.53 after closing Monday at $14.07. The stock has traded between $1.62 and $24.98 in the past 52-week period.
The potential sale includes Class A common stock, preferred stock, purchase contracts, warrants, subscription rights, depositary shares, and various debt securities, which may be convertible into equity.
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