Business
Auddia Announces Closing of $3.1 Million Registered Direct Offering of Common Stock
BOULDER, CO, June 15, 2023 (GLOBE NEWSWIRE) -- via NewMediaWire – Auddia Inc. (Nasdaq: AUUD) ("Auddia" or the "Company"), developer of a proprietary AI
About this update from Auddia Inc.
[{"type":"text","content":"BOULDER, CO, June 15, 2023 (GLOBE NEWSWIRE) -- via NewMediaWire – Auddia Inc. (Nasdaq: AUUD) (\"Auddia\" or the \"Company\"), developer of a proprietary AI platform for audio and innovative technologies for podcasts that is reinventing how consumers engage with audio, today announced the closing of its previously announced registered direct offering of 4,735,000 shares of common stock at a purchase price of $0.65 per share, priced at-the-market under Nasdaq rules. The gross proceeds to the Company from the registered direct offering were approximately $3.1 million before deducting the placement agent’s fees and other offering expenses. Maxim Group LLC acted as the sole placement agent and Ladenburg Thalmann & Co. Inc. acted as financial advisor for the offering. The shares of common stock were offered pursuant to a shelf registration statement on Form S-3 (File No. 333-264227), which was declared effective by the United States Securities and Exchange Commission (\"SEC\") on April 18, 2022. This press release shall not constitute an offer to sell or a solicitation of an offer to buy any of the securities described herein, nor shall there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or other jurisdiction. A prospectus supplement relating to the shares of common stock was filed by the Company with the SEC. Copies of the prospectus supplement relating to the registered direct offering, together with the accompanying prospectus, can be obtained at the SEC's website at www.sec.gov or from Maxim Group LLC, 300 Park Avenue, New York, NY 10022, at (212) 895-3745. About Auddia Inc. Auddia, through its proprietary AI platform for audio identification and classification and related technologies, is reinventing how consumers engage with AM/FM radio, podcasts, and other audio content. Auddia’s flagship audio superapp, called faidr, brings two industry firsts to the audio-streaming landscape: subscription-based, ad-free listening on any AM/FM radio station and podcasts with interactive digital feeds that support deeper stories and open untapped revenue streams to podcasters. faidr also delivers exclusive content and playlists, and showcases exciting new artists, hand-picked by ...