AUUD News & Events

Auddia announced that in a follow up to the business combination LOI previously announced in August 2025, the Company's board, acting upon the recommendation of its special committee of independent directors, has approved a definitive merger agreement for a business combination between Auddia and Thramann Holdings. Thramann Holdings is a privately held holding company that controls LT350, Influence Healthcare, and Voyex, three early stage AI-native companies founded by Jeff Thramann. Upon closing of the transaction, Auddia will be renamed McCarthy Finney and trade under its new MCFN ticker. Auddia will become a fully owned subsidiary and each of the three Thramann Holdings entities will also be fully owned by McCarthy Finney. Jeff Thramann will remain as CEO of McCarthy Finney and John Mahoney will remain as CFO. Auddia's current board members are expected to continue as members of the board of the combined company. Auddia shareholders are expected to own 20% of McCarthy Finney at closing with 80% of the combined company expected to be owned at closing by Jeff Thramann. The closing of the merger will be conditioned on Auddia having at least $12M cash on hand at closing in order to provide cash runway to fund McCarthy Finney to key future business milestones. Based on a discounted cash flow analysis of McCarthy Finney's forward looking 10-year pro forma completed by management, the Company estimates the base case valuation of McCarthy Finney to be $250M. Financial statements and other detailed financial disclosures about McCarthy Finney and its portfolio companies will be included in the relevant materials that Auddia intends to file with the SEC, including a registration statement on Form S-4.

Auddia announced the official product launch of Discovr Radio, its AI-powered artist and label promotion platform. Discovr Radio will officially go live on January 20, beginning with an initial pilot group of approximately 300 customers. Following launch, the company plans to onboard additional customers on a weekly basis, with expansion paced by overall user growth across Auddia's flagship faidr app. Discovr Radio introduces a new model for music discovery in radio streaming by allowing artists and labels to insert music directly into AM/FM streaming feeds during traditional ad slots. Powered by Auddia's proprietary AI Placement Engine, the platform intelligently matches songs to listeners based on contextual, behavioral, and listening data, delivering guaranteed plays while preserving a seamless listener experience.

Auddia has updated its corporate overview on the company website. The company recently announced the signing of a non-binding LOI for a proposed business combination and restructuring which remains in progress as the parties continue to work towards executing definitive documents. The proposed business combination is aimed at restructuring Auddia as a holding company that will deliver AI and web3 - blockchain & crypto - capabilities to its portfolio companies. In support of this mission, Auddia secured the URL for www.mccarthyfinney.com and reserved the NASDAQ ticker MCFN. To reflect the holding company's AI focus, the name references John McCarthy who is a computer scientist widely considered to be the father of artificial intelligence and credited with the first use of the phrase. The company is shifting from a subscription based direct to consumer business model to a B2B business model focused on AI driven music discovery.

Auddia announced a restructuring of its engineering team aimed at significantly reducing costs while positioning the company for its AI native holding company structure upon closing of the previously announced business combination. Pablo Calderon, Auddia's head of engineering and lead AI model developer, will join the AI team being built at the holding company level to service the AI engineering needs of its proposed subsidiaries, to include Auddia. As part of the restructuring, Peter Shoebridge, Auddia CTO, will be leaving the company at the end of August. The company recently announced that in conjunction with the planned AI native holding company restructuring under review, the business model of Auddia is changing from a consumer subscription model to a B2B SaaS model focused on giving artists and labels a new way to leverage AM/FM radio streams to connect with mainstream radio listeners. With the engineering transition now completed, the internal AI team will focus on training and productizing the AI Placement Engine while the dedicated outsourced engineering team will lead development of the Discovr Radio Portal. The Company believes this will be a more capital efficient and faster product development process than was possible under the previous engineering structure, with launch of the Discovr Radio platform coinciding with the AI native holding company restructuring.