SoundHound Announces Closing of Business Combination

SoundHound AI, Inc. (“SoundHound”), a global leader in voice artificial intelligence (“voice AI”) today announced the completion of the previously announced business combination (the “Business Combination”) between SoundHound Inc. and Archimedes Tech SPAC Partners Co. (“Archimedes”), a special purpose acquisition company.

SPACs: A Convenient Anesthesia for FOMO

As with most financial market crazes, the fear of missing out motivates buying and selling en masse. The market’s current fantasy with special-purpose acquisition companies (SPACs), a financial instrument mired in a suspicious past, may just be another instance of this phenomenon.

What is a Cannabis SPAC?

SPACs were one of the big financial stories of 2020, given that they raised billions of dollars in the second half of the year. Given the amount of money flowing into SPACs, it’s not surprising that the cannabis industry turned to this new trend for financing.