SoundHound Inc. announced that it has entered into subscription agreements for a private placement of 11,100,000 class A common shares at a price of $10 per share for gross proceeds $111,000,000 on November 15, 2021. The transaction will include participation from Koch Industries, Inc., MKaNN, Cota Capital Management LLC, FIH Mobile Limited, Structural Capital Management Company II, LP, The Provco Group, exsting investor Sompo Japan Insurance Inc., Qatar First Bank, Investment Arm, Oracle Corporation, VIZIO, HTC, Pejman Nozad, and others. The round was valued at pre-money valuation of $2,000,000,000.

The transaction is expected to close in quarter 1 of 2022. All securities to be issued in connection with the transaction will not be registered under the Securities Act, in reliance on the exemption from registration provided by Section 4(a)(2) of the Securities Act and/or Regulation D promulgated thereunder.