Auddia closes $750K secured bridge note, issues warrants; raises $1.12M via equity line

AUDDIA INC.

New secured bridge note of $825K principal ($750K net) with 10% interest, maturing July 31, 2023.
Issued 650,000 warrants at $0.61/share; 325,000 exercisable immediately, rest on maturity extension.
Amends prior note: cancels 300,000 old warrants, issues 600,000 new warrants at $0.61/share.
Raised ~$1.12M by selling 1,962,220 shares under White Lion equity line on Apr 17 and 20.
Extension option to Nov 30, 2023 with 20% interest and conditional warrants become exercisable.

item 1.01 item 8.01 item 9.01

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. amended Prior Note (effective 2023-04-17).

Action: amendment
Agreement: credit facility
Effective: 2023-04-17

Exact text from the filing

Secured Bridge Note (“Prior Note”) financing with one accredited investor who is a significant existing stockholder of the

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

AUDDIA INC. entered into New Note valued at $750,000 (effective 2023-04-17).

Action: entry
Agreement: credit facility
Value: $750,000
Effective: 2023-04-17

Exact text from the filing

On April 17, 2023, we entered into an additional Secured Bridge Note (“New Note”) financing with the same accredited investor.

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AUDDIA INC. filing history →

Source: SEC EDGAR

accession 0001683168-23-002585

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