debt
confidence high
sentiment neutral
materiality 0.25
Archimedes Tech SPAC Partners issues $167,955 promissory note to CEO affiliate for working capital
SOUNDHOUND AI, INC.
- Issued unsecured promissory note of $167,954.68 to SPAC Partners LLC, an affiliate of CEO Stephen N. Cannon.
- Note bears no interest, matures upon consummation of initial business combination.
- If no business combination, principal balance forgiven; proceeds used for franchise taxes.
- Note is unsecured; company is a SPAC with trust account protections for public stockholders.