Loan & DebtJul 23, 2026, 05:06 PM
Auddia issues $1.4M bridge notes to merger targets
AI Summary
Auddia Inc. has issued senior unsecured bridge notes totaling up to $1.4 million to Thramann Holdings, LT350, Influence Healthcare, and Voyex. These notes provide interim funding and working capital to the target companies while their merger with Auddia is pending. The funds advanced will be credited towards Auddia's $12 million net cash closing condition for the merger.
Key Highlights
- Auddia issued senior unsecured bridge notes totaling up to $1.4 million to four target companies.
- Notes provide interim funding for Thramann Holdings ($360k), LT350 ($400k), Influence ($590k), and Voyex ($50k).
- Bridge notes carry an 8.0% annual interest rate, compounded annually.
- Maturity is the earlier of two years post-merger termination or a change of control.
- LT350, Influence, and Voyex notes are convertible into equity at 80% of a Qualified Financing price.
- Funds advanced will count towards Auddia's $12 million net cash merger closing condition.
- The bridge notes were approved by Auddia's Special Committee and Audit Committee.
Price Impact
More from AUUD