secwatch.observer — SEC 8-K summary
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Issuer:     AUDDIA INC. (AUUD)
CIK:        0001554818
Form:       8-K
Filed at:   2022-11-14T23:59:59+00:00
Accession:  0001683168-22-007731
Event type: debt
Sentiment:  neutral
Materiality: 0.60
Item codes: 1.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1554818/000168316822007731/0001683168-22-007731-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1554818/000168316822007731/auddia_8k.htm
  HTML page:      https://secwatch.observer/filing/0001683168-22-007731

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer