AUUDW - Auddia Announces New $3.5M Financing | Benzinga
Proceeds will advance the recently announced enhanced podcast initiatives and support faidr 3.1 UX improvements
New financing better positions the Company for its ongoing M&A strategy
Financing secured without providing warrant coverage
BOULDER, CO, March 18, 2024 (GLOBE NEWSWIRE) -- via NewMediaWire -- Auddia Inc. (NASDAQ:AUUD) (NASDAQ:AUUDW) ("Auddia" or the "Company"), developer of a proprietary AI platform for audio and innovative technologies for podcasts that is reinventing how consumers engage with audio, today announced that it has closed on $3.5M of new financing by selling 1.3M common shares from its previously announced equity line.
"We have a number of product enhancements to faidr that are in our pipeline in addition to the innovative Seamless Play and Forward+ capabilities we announced as part of our Enhanced Podcasts suite last week," said Theo Romeo, Chief Product Marketing Officer for Auddia. "This financing allows us to lock these products into our roadmap in an ongoing effort to improve the user experience and performance metrics."
Management believes that by strengthening the balance sheet and improving the premium listening experience available on ...