M&A - AUDDIA INC.
Form Type: 10-K
Filing Date: 2025-03-05
Corporate Action: Acquisition
Type: Update
Accession Number: 000168316825001357
Filing Summary: Auddia Inc. has experienced significant developments during the fiscal year ending December 31, 2024. The company is focused on revolutionizing audio consumption with its AI-driven platform, 'faidr', which allows users to enjoy AM/FM radio without commercial interruptions. In January 2024, Auddia entered into a Purchase Agreement to acquire RadioFM as part of its strategy to scale operations and enhance user engagement. However, this agreement was mutually terminated in March 2024. Additionally, Auddia implemented a reverse stock split in February 2024, consolidating every 25 shares into one, which changed the CUSIP number and adjusted the trading of its common stock and related securities. Auddia's growth strategy includes exploring further mergers and acquisitions, aiming to increase user adoption and subscription revenue, while continuing to maintain a competitive edge in the evolving audio ecosystem that combines streaming and personalized content.
Document Link: View Document
Additional details:
Business Overview: Auddia is an AI technology company that has developed the faidr app, uniquely combining traditional radio with ad-free listening experiences through advanced AI technology.
Recent Developments: Auddia terminated the RFM acquisition in March 2024; the company is exploring new M&A options to enhance growth.
Reverse Stock Split: In February 2024, Auddia executed a reverse stock split, consolidating 25 shares to 1, effective February 27, 2024.
Financial Highlights: Market value of common stock held by non-affiliates was approximately $2.63 million as of June 30, 2024.
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