Auddia amends bridge notes, agrees to repay $2.75M principal and convert $911K into equity

AUDDIA INC.

Auddia entered an Amendment and Waiver Agreement with investor Richard Minicozzi on April 9, 2024, regarding secured bridge notes.
Company will repay $2.75M principal after closing a $6M+ equity financing, and converted $911K of interest/OID into 463,337 prefunded and non-prefunded warrants.
Existing warrants repriced from $15.25 to $1.967 per share; investor received 50,000 new fee warrants at $1.967 exercise price.
Non-prefunded and fee warrants have anti-dilution price adjustment and are not exercisable for six months per Nasdaq rules.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.4

AUDDIA INC. amended Amendment and Waiver Agreement with one accredited investor who is a significant existing stockholder of the Company (effective 2024-04-09).

Action: amendment
Agreement: credit facility
Counterparty: one accredited investor who is a significant existing stockholder of the Company
Effective: 2024-04-09

Exact text from the filing

On April 9, 2024, the Company and the investor entered into an Amendment and Waiver Agreement relating to the Bridge Notes.

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AUDDIA INC. filing history →

Source: SEC EDGAR

accession 0001683168-24-002410

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