Archimedes Tech SPAC restates financials to reclassify public shares as temporary equity

SOUNDHOUND AI, INC.

Management and audit committee on Dec 21, 2021 concluded prior financials should no longer be relied upon.
Audited balance sheet as of March 15, 2021 and unaudited Q1 2021 interim statements to be restated.
All public shares will be reclassified from permanent equity to temporary equity per ASC 480-10-S99-3A.
No impact on cash position or trust account balance is expected from the restatement.
Material weakness identified in internal control over financial reporting; remediation plan in Q3 10-Q/A.

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