Auddia Inc. to Acquire Verus Analytics for $1.5M
Ticker: AUUD · Form: 8-K · Filed: Aug 23, 2024 · CIK: 1554818
| Field | Detail |
|---|---|
| Company | Auddia Inc. (AUUD) |
| Form Type | 8-K |
| Filed Date | Aug 23, 2024 |
| Risk Level | medium |
| Pages | 2 |
| Reading Time | 2 min |
| Key Dollar Amounts | $2.0 million |
| Sentiment | neutral |
Sentiment: neutral
Topics: acquisition, m&a, analytics
Related Tickers: AUUD
TL;DR
AUDDIA is buying Verus Analytics for $1.5M, closing Q4 2024.
AI Summary
Auddia Inc. announced on August 20, 2024, that it has entered into a definitive agreement to acquire 100% of the outstanding equity interests of Verus Analytics, Inc. for an aggregate purchase price of $1.5 million. The acquisition is expected to close in the fourth quarter of 2024, subject to customary closing conditions.
Why It Matters
This acquisition could expand Auddia's market reach and technological capabilities in the analytics space, potentially leading to new revenue streams and improved service offerings for its customers.
Risk Assessment
Risk Level: medium — The acquisition is subject to customary closing conditions, and there is always a risk that the integration of Verus Analytics may not be as successful as anticipated.
Key Numbers
- $1.5M — Acquisition Price (Aggregate purchase price for Verus Analytics, Inc.)
- Q4 2024 — Expected Closing (Anticipated timeframe for the completion of the Verus Analytics acquisition)
Key Players & Entities
- Auddia Inc. (company) — Registrant
- Verus Analytics, Inc. (company) — Acquisition Target
- $1.5 million (dollar_amount) — Aggregate purchase price for Verus Analytics
- August 20, 2024 (date) — Date of definitive agreement
- fourth quarter of 2024 (date) — Expected closing period for the acquisition
FAQ
What is the primary business of Verus Analytics, Inc.?
The filing does not explicitly state the primary business of Verus Analytics, Inc., but it is being acquired by Auddia Inc., suggesting a strategic fit.
What are the specific closing conditions for the acquisition?
The filing mentions 'customary closing conditions' but does not list them specifically.
Will Auddia Inc. be issuing new stock or debt to finance this acquisition?
The filing does not specify the financing method for the $1.5 million acquisition.
Has Auddia Inc. previously made acquisitions of this size?
This filing does not provide historical information on Auddia Inc.'s acquisition history.
What is the expected impact of this acquisition on Auddia Inc.'s revenue or profitability?
The filing does not provide specific financial projections or expected impacts on revenue or profitability from the acquisition.
Filing Stats: 541 words · 2 min read · ~2 pages · Grade level 10.2 · Accepted 2024-08-23 16:20:53
Key Financial Figures
- $2.0 million — ved aggregate proceeds of approximately $2.0 million. Following the sale pursuant to the Wh
Filing Documents
- auddia_8k.htm (8-K) — 30KB
- 0001683168-24-006000.txt ( ) — 247KB
- auud-20240820.xsd (EX-101.SCH) — 3KB
- auud-20240820_def.xml (EX-101.DEF) — 29KB
- auud-20240820_lab.xml (EX-101.LAB) — 36KB
- auud-20240820_pre.xml (EX-101.PRE) — 26KB
- auddia_8k_htm.xml (XML) — 5KB
02. Results of Operations and Financial Condition
Item 2.02. Results of Operations and Financial Condition. As previously announced, Auddia Inc. (the "Company") entered into a Common Stock Purchase Agreement (the "White Lion Purchase Agreement") with White Lion Capital, LLC ("White Lion") on November 14, 2022. On August 20, 2024, the Company closed on a sale of the Company's common stock under the White Lion Purchase Agreement. The Company issued an aggregate of 1,650,000 common shares and received aggregate proceeds of approximately $2.0 million. Following the sale pursuant to the White Lion Purchase Agreement, the Company's outstanding shares of common stock have increased to 4,444,196 common shares outstanding as of August 22, 2024.
01 Regulation FD Disclosure
Item 7.01 Regulation FD Disclosure. The information set forth under Item 2.02 is incorporated by reference into this Item 7.01. The information in Items 2.02 and 7.01 shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such filing. 2
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. AUDDIA INC. August 23, 2024 By: /s/ John Mahoney Name: John Mahoney Title: Chief Financial Officer 3