Auddia Inc. Provides Bridge Funding to Targets Ahead of Proposed Merger

What Happened Auddia Inc. (filed 8‑K July 23, 2026) entered into senior unsecured bridge notes on July 17, 2026 with Thramann Holdings, LT350, Influence Healthcare and Voyex to provide limited interim working capital while a previously announced merger remains pending. The Merger Agreement was signed February 17, 2026 with McCarthy Finney (Holdco); if completed the targets and Auddia would become subsidiaries of McCarthy Finney, a public holding company expected to trade under ticker MCFN. Auddia expects a special stockholders meeting in late August 2026 for stockholder approval of the proposed merger.

Key Details

• Funding caps: Thramann Holdings up to $360,000; LT350 up to $400,000; Influence Healthcare up to $590,000; Voyex up to $50,000. Funds to be advanced in tranches.
• Interest & maturity: 8.0% per year, compounded annually. Due on earlier of (a) two years after termination of the Merger Agreement or (b) a change of control for the applicable target.
• Conversion and repayment terms: Thramann Holdings note is non‑convertible. LT350, Influence and Voyex notes automatically convert (if a Qualified Financing occurs) into new equity at 80% of the cash price paid by new investors, subject to Qualified Financing minimums of $3.0M (LT350), $2.0M (Influence) and $1.0M (Voyex). In a change of control for LT350, Influence or Voyex, the target owes a repayment premium equal to 50% of outstanding principal.
• Security and approvals: Notes are unsecured senior obligations; each target agreed not to take on debt senior to the notes. Advances over $50,000 require Auddia’s Audit Committee approval. The Special Committee of independent directors and the Audit Committee approved the Bridge Notes.
• Closing condition impact: Any funds advanced under the Bridge Notes will be credited to Auddia’s net cash for satisfying a $12.0 million net cash closing condition in the Merger Agreement. No further funding will be made if the Merger Agreement is terminated.

Why It Matters These bridge notes provide short‑term liquidity to the Thramann‑related targets while preserving the structure of the pending merger. For Auddia shareholders, the advances reduce near‑term funding risk for the targets and count toward the $12.0M net cash closing requirement, but they increase Auddia’s exposure to unsecured credit to those private companies. Key items investors may watch: the August 2026 special meeting vote on the merger, whether qualifying financings occur (which would convert notes into equity), and any change‑of‑control events that could trigger repayment premiums.