Ellenoff Grossman, Loeb & Loeb steer SoundHound SPAC merger

People with briefcases come out of the boardroom. REUTERS/Axel Schmidt
REUTERS/Axel Schmidt
  • Ellenoff Grossman & Schole represents SoundHound
  • SPAC turns to IPO adviser Loeb & Loeb

(Reuters) - Ellenoff Grossman & Schole is guiding voice recognition software maker SoundHound Inc in its plans to go public through a $2.1 billion merger with blank check company Archimedes Tech SPAC Partners Co, which is represented by Loeb & Loeb.

The business combination disclosed on Tuesday adds to more than $552.5 billion worth of mergers announced so far this year that feature blank check companies, also known as special purpose acquisition companies, according to data from Refinitiv.

SPACs generally raise funds through initial public offerings before merging with privately held companies to take them public.

Santa Clara, California-based SoundHound's team on the deal includes Ellenoff Grossman & Schole co-founder Douglas Ellenoff; corporate and securities partners Stuart Neuhauser, Matthew Gray and Jeff Rubin; as well as corporate and securities of counsel Kristina Brown, according to a firm email.

The Archimedes SPAC is working with Loeb & Loeb corporate partners Giovanni Caruso, Rima Moawad and Barry Mehlman.

Caruso previously supported the SPAC's March initial public offering, according to filings with the U.S. Securities and Exchange Commission.

The SPAC’s financial adviser for the transaction is EarlyBirdCapital Inc., and SoundHound’s is Guggenheim Securities LLC.

(NOTE: This story has been updated with the names of the Loeb & Loeb attorneys advising the SPAC.)

Read more:

Voice assistant maker SoundHound to go public via $2 bln SPAC deal

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Sierra Jackson reports on legal matters in major mergers and acquisitions, including deal work, litigation and regulatory changes.