Auddia issues single Series A Preferred share to Chairman with 30M votes tied to reverse split

AUDDIA INC.

Sold one share of Series A Preferred Stock to Executive Chairman Jeffrey Thramann for $1,000 on Nov 11, 2023.
Share carries 30,000,000 votes, voting proportionally to common only on reverse stock split proposals.
No conversion rights, dividends, or liquidation preference; redeemable for $1,000 cash upon board order or reverse split.
Private placement exempt from registration under Section 4(a)(2) of the Securities Act.

Key facts

Extracted from this filing and checked against the source text.

Governance Changes SEC 8-K Item 5.03/5.05/5.06 confidence 0.9

AUDDIA INC.: Filed Certificate of Designation for Series A Preferred Stock with one share having 30,000,000 votes on reverse stock split proposals (effective 2023-11-13).

Change: charter amendment
Effective: 2023-11-13

Exact text from the filing

On November 13, 2023, the Company filed a Certificate of Designation of the Series A Preferred Stock (the “Certificate of Designation”) with the Secretary of State of the State of Delaware to create a new class of Series A Preferred Stock, par value $0.001 per share.

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AUDDIA INC. filing history →

Source: SEC EDGAR

accession 0001683168-23-008237

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