secwatch.observer — SEC 8-K summary
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Issuer:     AUDDIA INC. (AUUD)
CIK:        0001554818
Form:       8-K
Filed at:   2024-04-29T23:59:59+00:00
Accession:  0001683168-24-002767
Event type: other_material
Sentiment:  neutral
Materiality: 0.75
Item codes: 1.01, 3.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1554818/000168316824002767/0001683168-24-002767-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1554818/000168316824002767/auddia_8k.htm
  HTML page:      https://secwatch.observer/filing/0001683168-24-002767

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