Auddia Inc. secures $1.3 million in common stock sale

Auddia Inc. (NASDAQ:AUUD), a Delaware-based firm specializing in computer processing and data preparation, has announced the closing of a significant stock sale on Monday, which resulted in an influx of approximately $1.3 million in capital. The transaction, part of an agreement with investment firm White Lion Capital, LLC, involved the issuance of 1,225,263 common shares.

This strategic financial move has expanded Auddia's outstanding common stock to a total of 5,669,459 shares as of September 3, 2024. The details of this financial activity were disclosed in an 8-K filing with the Securities and Exchange Commission (SEC), which serves as a current report for companies to announce major events that shareholders should know about.

The company's engagement with White Lion Capital began with a Common Stock Purchase Agreement on November 14, 2022. The recent completion of the stock sale under this agreement represents a continued relationship between the two entities.

The SEC filing emphasizes that the information provided regarding the results of operations and financial condition should not be considered as "filed" under the SEC's regulations nor should it be assumed to be incorporated by reference into any future filings under the Securities Act or the Exchange Act, except as explicitly stated in such filings.

Auddia's latest financial maneuver comes as the company, listed as an emerging growth company, continues to navigate the competitive landscape of the tech industry. The capital raised may be pivotal for Auddia's ongoing operations and potential expansion plans.

In other recent news, Auddia Inc. has made significant strides in its operations and financial growth. The company successfully completed a common stock sale with White Lion Capital, LLC, resulting in an influx of approximately $2 million in capital. This financial move increased the total number of outstanding shares for the company.

Simultaneously, Auddia launched faidr 3.1, a new version of its flagship audio superapp. This update includes product enhancements like Forward+, allowing users to skip entire segments with one button press, and the Seamless feature, enabling subscribers to bypass ads on partner podcasts. These enhancements are part of Auddia's strategy to expand its user base and convert free users to paying subscribers.

Furthermore, Auddia announced the launch of Apple (NASDAQ:AAPL) CarPlay and Android Auto interfaces for its faidr mobile application. This integration allows users to project their smartphone audio options onto their vehicle’s infotainment systems, providing a safer, hands-free user experience.

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