Auddia raises $2.3M in Series B convertible preferred stock and warrants financing

AUDDIA INC.

Gross proceeds of $2,314,000 from issuance of Series B convertible preferred stock and warrants.
2,314 Series B Preferred shares issued at $1,000/share, convertible into common at $1.851 per share.
Warrants to purchase 1,198,345 common shares at $1.851 exercise price, 5-year term.
Preferred stock pays 10% annual dividend quarterly, payable in cash or common stock at company option.
Proceeds to repay debt and for general corporate purposes; expected to bring company into Nasdaq compliance.

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 securities purchase agreement with accredited investors valued at $2,314,000 (effective 2024-04-23).

Action: entry
Agreement: equity purchase
Counterparty: accredited investors
Value: $2,314,000
Effective: 2024-04-23

Exact text from the filing

On April 23, 2024, Auddia Inc. (the “Company”, “we” and “us”) entered into a securities purchase agreement with accredited investors for a convertible preferred stock and warrants financing.

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AUDDIA INC. filing history →

Source: SEC EDGAR

accession 0001683168-24-002767

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