Merger Agreement Amended: TASE Shares to Receive Cash to Avoid Delays

summarizeSummary

LivePerson amended its merger agreement with SoundHound AI, Inc., converting TASE share consideration to cash (capped at $7.5M) to avoid regulatory delays and ensure a smoother closing.

check_boxKey Events · M&A and Partnerships · LPSN

• Merger Agreement Amended

  LivePerson, Inc. and SoundHound AI, Inc. entered into an Amended and Restated Merger Agreement on July 2, 2026, modifying the terms of their original agreement from April 21, 2026.

• TASE Shares to Receive Cash

  Shares of LivePerson common stock held through the Tel Aviv Stock Exchange (TASE Shares) will now be converted into a right to receive cash consideration, rather than SoundHound common stock.

• Avoids Regulatory Delays

  The change in consideration for TASE Shares is specifically intended to avoid delays in the merger process that would have resulted from Israeli securities laws requiring a prospectus for the issuance of SoundHound stock to TASE shareholders.

• Cash Consideration Capped

  The aggregate cash consideration payable to holders of TASE Shares is capped at $7,500,000.

auto_awesomeAnalysis · LPSN · Technology

LivePerson has amended its definitive merger agreement with SoundHound AI, Inc. to convert the consideration for shares held through the Tel Aviv Stock Exchange (TASE) from SoundHound common stock to cash. This change, capped at $7.5 million for TASE shares, is a critical step to avoid potential delays in the merger process that would have been caused by Israeli securities laws requiring a prospectus for stock issuance to TASE shareholders. This amendment de-risks the merger timeline and provides certainty for TASE shareholders, facilitating the overall acquisition.