Auddia signs non-binding LOI for business combination with Thramann Holdings; restructures as holding company

AUDDIA INC.

Proposed transaction gives Holdings' equity holders 80% ownership; Auddia holders get 20%.
CEO Jeff Thramann (founder of Holdings) to lead combined public holding company; new CEO sought for Auddia unit.
Closing conditioned on raising at least $10M additional capital, plus stockholder and regulatory approvals.
Special Committee of independent directors formed; expects to engage investment bank for fairness opinion.
Parties agree to 30-day exclusivity to negotiate definitive agreement; no assurance of completion.

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