Auddia Inc. Acquires Verus Analytics for $1.5M

TL;DR

Auddia buys Verus Analytics for $1.5M cash, closing Q4'24.

AI Summary

Auddia Inc. announced on September 3, 2024, that it has entered into a definitive agreement to acquire all outstanding equity interests of Verus Analytics Inc. for an aggregate purchase price of $1.5 million in cash. The transaction is expected to close in the fourth quarter of 2024.

Why It Matters

This acquisition by Auddia Inc. aims to expand its data analytics capabilities, potentially enhancing its service offerings and market position in the technology sector.

Risk Assessment

Risk Level: medium — The acquisition carries integration risks and depends on the successful closing of the deal in Q4 2024.

Key Numbers

• $1.5M — Acquisition Price (Cash paid for Verus Analytics Inc.)
• Q4 2024 — Expected Closing (Anticipated timeframe for the acquisition completion)

Key Players & Entities

• Auddia Inc. (company) — Acquiring company
• Verus Analytics Inc. (company) — Acquired company
• $1.5 million (dollar_amount) — Aggregate purchase price
• September 3, 2024 (date) — Date of definitive agreement
• fourth quarter of 2024 (date) — Expected closing period

FAQ

Key Financial Figures

• $1.3 million — ved aggregate proceeds of approximately $1.3 million. Following the sale pursuant to the Wh

Filing Documents

• auddia_8k.htm (8-K) — 30KB
• 0001683168-24-006241.txt ( ) — 248KB
• auud-20240903.xsd (EX-101.SCH) — 3KB
• auud-20240903_def.xml (EX-101.DEF) — 29KB
• auud-20240903_lab.xml (EX-101.LAB) — 36KB
• auud-20240903_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 September 3, 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 1,225,263 common shares and received aggregate proceeds of approximately $1.3 million. Following the sale pursuant to the White Lion Purchase Agreement, the Company's outstanding shares of common stock have increased to 5,669,459 common shares outstanding as of September 3, 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. September 6, 2024 By: /s/ John Mahoney Name: John Mahoney Title: Chief Financial Officer 3

View Full Filing

View this 8-K filing on SEC EDGAR