SoundHound AI repays $100M term loan, terminates credit agreement; now debt-free with ~$180M cash

SOUNDHOUND AI, INC.

Paid $105M total ($100M principal + $5M prepayment premium) to fully retire term loan due 2027.
Cash balance post-payment ~$180M, including $14M previously restricted; no outstanding debt.
Expects one-time charge of ~$16M in Q2 2024 for debt extinguishment (premium, legal fees, non-cash amortization).
All liens and guarantees released; credit agreement terminated.
Company now debt-free with substantial cash for operations.

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