Brief: Auddia Announces Interim Bridge Financing Withdraws Pending S-1 Registration Statement Provides Details On M&A Initiatives

Auddia

18/04/2023 13:05

April 18 (Reuters) - Auddia Inc  AUUD.O :
    * AUDDIA ANNOUNCES INTERIM BRIDGE FINANCING; WITHDRAWS
PENDING S-1
REGISTRATION STATEMENT; PROVIDES DETAILS ON M&A INITIATIVES
    * AUDDIA - INTERIM FINANCING TO BRIDGE TO ADVANCEMENT OF
ONGOING
BUYSIDE M&A DISCUSSIONS AND ANTICIPATED FAVORABLE MIDYEAR
PERFORMANCE METRICS FOR FAIDR
    * AUDDIA - BRIDGE FINANCING INCLUDES INCREASE IN EXISTING $2
MILLION NON-CONVERTIBLE, TERM DEBT, FROM EXISTING AFFILIATE
INVESTOR TO $2.75 MILLION
    * AUDDIA INC - BRIDGE FINANCING ALSO INCLUDES DRAW DOWNS ON
ITS
PREVIOUSLY DISCLOSED $10M EQUITY LINE
    * AUDDIA INC - AT PRESENT, IS IN ADVANCED ACTIVE DISCUSSIONS
WITH
THREE PROPERTIES AND IS TARGETING TO EXECUTE ONE OR MORE
AGREEMENTS IN NEAR TERM
    * AUDDIA - BELIEVES 3 TARGET PROPERTIES UNDER ACTIVE
DISCUSSION
AGGREGATE TO ABOUT $6.5 MILLION IN CURRENT ANNUAL REVENUE WITH
GREATER THAN 50% FREE CASH FLOW

Source text for Eikon:  ID:nGNX3b4GM7 
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