Monitor merger progress and any updates on the $300M equity distribution program. The stock price collar ($7–$12) will affect consideration value. LivePerson's revenue trajectory and debt restructuring remain key risks.
Price Chart
Executive Summary
SoundHound AI filed an 8-K providing LivePerson's Q1 2026 financials, pro forma combined statements for the pending merger, and an equity distribution agreement for up to $300M in common stock. LivePerson's revenue declined 12% YoY to $56.956M, while net loss improved to -$8.827M. The $300M ATM offering may dilute existing shareholders, and the merger's closing conditions include a stock price collar.
Key Facts
- LivePerson Q1 2026 revenue: $56.956M, down 12% from $64.700M in Q1 2025.
- LivePerson net loss improved to -$8.827M from -$14.133M.
- Merger consideration: SoundHound to issue shares to LivePerson stockholders and noteholders, subject to a $7–$12 stock price collar.
- Equity Distribution Agreement filed for at-the-market offering of up to $300M in SoundHound Class A common stock.
- LivePerson has $423.954M in total debt principal and a stockholders' deficit of -$51.496M.
- Pro forma combined revenue for Q1 2026: $101.151M; pro forma net loss: -$25.145M.
Financial Impact
LivePerson revenue decline of ~$7.7M YoY but net loss reduction of ~$5.3M; merger equity consideration ~$293M; potential dilution from $300M ATM offering.
Risk Factors
- Merger may not close due to regulatory or stockholder approval issues.
- LivePerson's continued revenue decline could affect combined company prospects.
- $300M ATM offering may dilute common and warrant holders significantly.
- High debt load ($394M carrying value) and negative equity of LivePerson.
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 3 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001213900-26-061610 |
| Document: ea029209501ex99-2.htm | 0001213900-26-061610 |
| Document: ea029209501ex1-1.htm | 0001213900-26-061610 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
May 27, 2026 21w ago | 8-K | $2.70 $1.91 | ▼ −29.26% | ▼ −26.12% | — |
May 11, 2026 24w ago | S-3ASR | $2.70 $2.70 | · 0.00% | ▲ +1.73% | — |
May 7, 2026 24w ago | 8-K | $2.70 $2.70 | · 0.00% | ▼ −0.02% | — |
Apr 21, 2026 27w ago | 425 | $2.70 $2.70 | · 0.00% | ▼ −4.92% | — |
Apr 21, 2026 27w ago | 8-K | $2.70 $2.70 | · 0.00% | ▼ −4.92% | — |
US Market Status
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