Glass Lewis backs LivePerson-SoundHound AI merger ahead of vote

Proxy advisory firm Glass Lewis & Co. has recommended that LivePerson (NASDAQ: LPSN) stockholders vote in favor of the company's proposed transaction with SoundHound AI (NASDAQ: SOUN), according to a press release from LivePerson.

The recommendation comes ahead of a Special Meeting of Stockholders scheduled for August 20, 2026. Approval of the merger requires an affirmative vote from a majority of all outstanding shares of LivePerson common stock.

Under the terms of the deal, most LivePerson stockholders would receive SoundHound AI shares valued at approximately $3.33 per share, based on the April 21, 2026 announcement date. That figure represents a 22% premium over LivePerson's 30-day volume-weighted average trading price prior to the announcement. Stockholders holding shares on the Tel Aviv Stock Exchange would receive a substantially equivalent value in cash.

LivePerson CEO John Sabino said in a statement that the Glass Lewis recommendation "supports the Board's unanimous determination that our proposed transaction with SoundHound AI maximizes value for and is in the best interests of LivePerson stockholders."

LivePerson's outstanding debt currently exceeds the total value of the transaction. As part of the deal, secured noteholders have agreed to exchange their notes at a discount to the notes' approximately $350 million par value.

SoundHound AI has stated that, assuming the transaction closes in the second half of 2026, it expects a combined revenue range of at least $350 million to $400 million in 2027, with potential to reach up to $500 million based on the existing customer base.

The combined company would serve 25 of the Fortune 100 companies, according to the press release.

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