secwatch.observer — SEC 8-K summary
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Issuer:     AUDDIA INC. (AUUD)
CIK:        0001554818
Form:       8-K
Filed at:   2026-02-17T23:59:59+00:00
Accession:  0001683168-26-001114
Event type: m_and_a
Sentiment:  neutral
Materiality: 0.90
Item codes: 1.01, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Auddia enters reverse merger with CEO-owned Thramann; Thramann holders to get ~80% of combined company
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- Each Auddia common share converts into one Holdco common share; Thramann holders receive ~80% economic interest including $3.5M in non-convertible notes.
- Jeff Thramann, Auddia CEO and sole owner of Thramann, is counterparty; special committee approved the related-party transaction.
- Closing conditions include Auddia stockholder approval, net cash >= $12M, and Nasdaq listing; termination fee $600K.
- Holdco will issue Special Preferred Stock with $20.5M liquidation preference and conversion rights; $3.5M Holdco Notes at 8% interest with 2-year maturity.
- Post-merger, current Auddia board and CEO Jeff Thramann to continue; 180-day lock-up agreement for Thramann shares.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1554818/000168316826001114/0001683168-26-001114-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1554818/000168316826001114/auddia_8k.htm
  HTML page:      https://secwatch.observer/filing/0001683168-26-001114

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