AUDDIA INC. 8-K

What Happened
Auddia Inc. (NASDAQ: AUUD) announced in an 8-K that on April 23, 2026 it entered into an Exchange Agreement with accredited investors to convert 750 outstanding shares of its Series C convertible preferred stock (including accrued dividends) into 216,525 shares of common stock at an exchange price of $3.91 per common share. Following the exchange, no Series C preferred shares remain outstanding. The Series C preferred had been issued previously on September 30, 2024 as part of a financing that generated $1,000,000 in gross proceeds.

Key Details

• Original financing (Sept 30, 2024): 1,000 shares of Series C preferred issued at $1,000 per share, raising $1,000,000.
• Exchange (Apr 23, 2026): 750 Series C preferred shares (plus accrued dividends) were exchanged for 216,525 common shares.
• Exchange price: $3.91 per common share.
• Post-exchange: No Series C preferred stock remains outstanding. The Exchange Agreement is filed as Exhibit 10.1 to the 8-K.

Why It Matters
This action converts the remaining Series C preferred obligations into common equity, eliminating that preferred class and changing the company's capital structure. For investors, the exchange may affect share count and ownership percentages (dilution), and it removes a preferred security that carried dividend and conversion terms. The filing documents the specific conversion terms and confirms the Series C has been retired.