Auddia enters $2.2M secured bridge note and up to $10M equity line with White Lion Capital

AUDDIA INC.

Principal $2.2M, gross proceeds $2M, 10% interest, matures May 31, 2023, secured by all assets.
Investor receives 300,000 warrants at $2.10/share, 5-year term; extension option doubles warrants and raises interest to 20%.
Conversion of OID and interest at $1.23/share, subject to 19.99% beneficial ownership cap and Nasdaq rules.
Equity line with White Lion Capital: up to $10M at 97% of VWAP, capped at 2,501,700 shares (19.99% of outstanding).
White Lion receives 140,186 commitment shares; proceeds for working capital and general corporate purposes.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

AUDDIA INC. entered into Secured Bridge Note with one accredited investor who is a significant existing stockholder of the Company valued at $2,000,000 (effective 2022-11-14).

Action: entry
Agreement: notes offering
Counterparty: one accredited investor who is a significant existing stockholder of the Company
Value: $2,000,000
Effective: 2022-11-14

Exact text from the filing

On November 14, 2022, Auddia Inc. (the “Company”, “we” and “us”) entered into a Secured Bridge Note (“Note”) financing with one accredited investor who is a significant existing stockholder of the Company.

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Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

AUDDIA INC. entered into White Lion Purchase Agreement with White Lion Capital, LLC valued at $10,000,000 (effective 2022-11-14).

Action: entry
Agreement: equity purchase
Counterparty: White Lion Capital, LLC
Value: $10,000,000
Effective: 2022-11-14

Exact text from the filing

On November 14, 2022, the Company entered into a Common Stock Purchase Agreement (the “White Lion Purchase Agreement”) with White Lion Capital, LLC, a Nevada limited liability company (“White Lion”).

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147 material agreements filed in the last 30 days. Browse all material agreements →

AUDDIA INC. filing history →

Source: SEC EDGAR

accession 0001683168-22-007731

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