Auddia Announces Non-binding Letter of Intent for Business Combination and Restructuring
Auddia Inc. (NASDAQ: AUUD) has announced a significant restructuring through a non-binding letter of intent (LOI) for a business combination with Thramann Holdings, LLC. The deal would transform Auddia into a holding company focused on AI and web3 technologies, with Holdings' equity holders receiving 80% ownership while Auddia shareholders retain 20%.
The transaction, led by serial entrepreneur Jeff Thramann, requires $10 million in additional capital and includes a 30-day exclusivity period for negotiations. The new entity will focus on delivering AI efficiencies such as discounted compute costs and centralized AI model training, alongside web3 capabilities including treasury strategies and blockchain development. The deal is subject to various approvals and conditions, including board, stockholder, and regulatory clearances.
Auddia Inc. (NASDAQ: AUUD) ha annunciato una ristrutturazione significativa tramite una lettera di intenti non vincolante (LOI) per una fusione con Thramann Holdings, LLC. L'accordo trasformer脿 Auddia in una holding focalizzata sulle tecnologie AI e web3, con i detentori di capitale di Holdings che riceveranno il 80% della propriet脿, mentre gli azionisti di Auddia manterranno il 20%.
La transazione, guidata dall'imprenditore seriale Jeff Thramann, richiede un capitale aggiuntivo di 10 milioni di dollari e prevede un periodo di esclusiva di 30 giorni per le negoziazioni. La nuova entit脿 si concentrer脿 sull'offerta di efficienze AI come la riduzione dei costi di calcolo e l'addestramento centralizzato dei modelli AI, insieme alle capacit脿 web3, tra cui strategie di tesoreria e sviluppo blockchain. L'accordo 猫 soggetto a varie approvazioni e condizioni, inclusi i via libera del consiglio di amministrazione, degli azionisti e delle autorit脿 regolatorie.
Auddia Inc. (NASDAQ: AUUD) ha anunciado una reestructuraci贸n importante mediante una carta de intenci贸n no vinculante (LOI) para una combinaci贸n de negocios con Thramann Holdings, LLC. El acuerdo transformar谩 a Auddia en una compa帽铆a holding enfocada en tecnolog铆as de IA y web3, con los accionistas de Holdings recibiendo el 80% de la propiedad, mientras que los accionistas de Auddia conservar谩n el 20%.
La transacci贸n, liderada por el empresario en serie Jeff Thramann, requiere un capital adicional de 10 millones de d贸lares e incluye un periodo de exclusividad de 30 d铆as para negociaciones. La nueva entidad se enfocar谩 en ofrecer eficiencias de IA como costos de c贸mputo reducidos y entrenamiento centralizado de modelos de IA, junto con capacidades web3 que incluyen estrategias de tesorer铆a y desarrollo blockchain. El acuerdo est谩 sujeto a diversas aprobaciones y condiciones, incluyendo autorizaciones de la junta directiva, accionistas y reguladores.
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Auddia Inc. (NASDAQ : AUUD) a annonc茅 une restructuration importante via une lettre d'intention non contraignante (LOI) pour une fusion avec Thramann Holdings, LLC. L'accord transformerait Auddia en une soci茅t茅 holding ax茅e sur les technologies d'IA et de web3, les d茅tenteurs de capitaux de Holdings recevant 80% de propri茅t茅 tandis que les actionnaires d'Auddia conserveraient 20%.
La transaction, men茅e par l'entrepreneur en s茅rie Jeff Thramann, n茅cessite un capital suppl茅mentaire de 10 millions de dollars et inclut une p茅riode d'exclusivit茅 de 30 jours pour les n茅gociations. La nouvelle entit茅 se concentrera sur la fourniture d'efficiences en IA telles que la r茅duction des co没ts de calcul et la formation centralis茅e des mod猫les d'IA, ainsi que sur des capacit茅s web3 incluant des strat茅gies de tr茅sorerie et le d茅veloppement blockchain. L'accord est soumis 脿 diverses approbations et conditions, notamment celles du conseil d'administration, des actionnaires et des autorit茅s r茅glementaires.
Auddia Inc. (NASDAQ: AUUD) hat eine bedeutende Umstrukturierung angek眉ndigt, und zwar durch einen unverbindlichen Absichtserkl盲rung (LOI) f眉r eine Unternehmenszusammenf眉hrung mit Thramann Holdings, LLC. Der Deal w眉rde Auddia in eine Holdinggesellschaft verwandeln, die sich auf KI- und Web3-Technologien konzentriert, wobei die Anteilseigner von Holdings 80% Eigentum erhalten und die Auddia-Aktion盲re 20% behalten.
Die Transaktion, angef眉hrt vom Serienunternehmer Jeff Thramann, erfordert zus盲tzliches Kapital in H枚he von 10 Millionen US-Dollar und beinhaltet eine 30-t盲gige Exklusivperiode f眉r Verhandlungen. Das neue Unternehmen wird sich darauf fokussieren, KI-Effizienzen wie verg眉nstigte Rechenkosten und zentralisiertes KI-Modelltraining zu liefern, sowie Web3-F盲higkeiten einschlie脽lich Treasury-Strategien und Blockchain-Entwicklung. Der Deal unterliegt verschiedenen Genehmigungen und Bedingungen, einschlie脽lich der Zustimmung von Vorstand, Aktion盲ren und Regulierungsbeh枚rden.
- Transformation into an AI and web3-focused holding company with multiple portfolio companies
- Leadership by experienced entrepreneur Jeff Thramann with track record of successful exits
- Access to AI infrastructure patents and blockchain strategies
- Special Committee of Independent Directors oversight to ensure fair transaction
- Significant dilution for current AUUD shareholders with 80% ownership transfer to Holdings
- Related party transaction risks due to Jeff Thramann's dual roles
- Requirement to raise $10 million in additional capital
- Multiple closing conditions could delay or prevent deal completion
Insights
Auddia's restructuring into an AI/Web3 holding company via related-party merger raises governance concerns amid significant dilution for current shareholders.
This non-binding LOI represents a fundamental transformation for Auddia that warrants careful scrutiny. The proposed transaction would convert Auddia into an AI/Web3-focused holding company while drastically diluting existing shareholders to just 20% ownership, with Thramann Holdings receiving 80% of the combined entity.
The related-party nature of this transaction raises significant corporate governance concerns. While Jeff Thramann recused himself from board deliberations and a Special Committee of Independent Directors has been established, the inherent conflict remains pronounced鈥擳hramann stands on both sides of the transaction as Auddia's CEO/Chairman and the majority owner of Holdings.
The deal includes critical contingencies that create substantial uncertainty: securing $10 million in additional funding, maintaining Nasdaq listing, and obtaining shareholder approval. The current disclosure lacks essential information about Holdings' portfolio companies' financials, valuation methodology justifying the 80/20 ownership split, and specific synergies between the entities.
For current Auddia shareholders, this represents a high-risk pivot away from their original investment thesis into unproven AI/Web3 ventures with minimal detail on how value will be created. The formation of a Special Committee and planned fairness opinion are standard governance practices, but insufficient to fully mitigate the fundamental conflicts in this related-party transaction.
Restructuring into a holding company focused on delivering AI and web3 efficiencies to portfolio companies
AI efficiencies include discounted AI compute costs, centralized AI model training and engineering, and utilization of AI tools to optimize operations
Web3 efficiencies include leveraging treasury strategies and the development of new blockchains and tokens to reinvent market verticals, optimize portfolio company operations, and drive sustainable multiples of NAV听听
BOULDER, Colo., Aug. 05, 2025 (GLOBE NEWSWIRE) -- (NASDAQ: AUUD) (NASDAQ: AUUDW) (鈥淎uddia鈥� or the 鈥淐ompany鈥�), today announced that in follow up to the the Company鈥檚 Board, acting upon the recommendation of the Special Committee of Independent Directors, has approved a non-binding letter of intent (鈥淟OI鈥�) for a business combination between Auddia and Thramann Holdings, LLC (鈥淗oldings鈥�).
Holdings is a privately held holding company that controls LT350, Influence Healthcare, and Voyex, three early stage AI-native companies founded by Jeff Thramann. Thramann is a serial entrepreneur and inventor named on over 130 U.S. and international patents. He has taken Auddia and Aclarion (Nasdaq: ACON) public, sold Lanx and US Radiosurgery to public companies, sold ProNerve and American Physicians to private equity, and sold Denver CyberKnife to a private company. Thramann is the founder of each of these companies except Aclarion.
鈥淎s an innovator, I have spent the past 15 years securing patents in the AI infrastructure space, immersing myself in both the development and use of AI models, and developing blockchain and digital currency strategies aimed at empowering the value drivers of industries to reinvent their markets,鈥� said Jeff Thramann, founder, Chairman, and CEO of Auddia. 鈥淚 believe there is an incredible opportunity for a holding company at the juncture of AI and web3 to harness these technologies and deliver them to portfolio companies.鈥�
The LOI contemplates a business combination between Auddia and Holdings with Auddia becoming a public holding company trading under a new name and ticker symbol. The transaction would result in the portfolio companies of Holding and Auddia becoming subsidiaries of the public holding company.
Under the proposed terms, Holdings鈥� equity holders are expected to receive an
Following closing of the business combination, the holding company鈥檚 board of directors will initially consist of Auddia鈥檚 current board of directors, who expect to appoint a new CEO for the Auddia business. Jeff Thramann, Auddia鈥檚 current CEO, will continue as CEO of the public holding company while John Mahoney, Auddia鈥檚 current CFO, will continue in his position as CFO of the public holding company and oversee the finances of all subsidiaries.
The business combination is a related party transaction. Jeff Thramann, the founder, Chairman, and CEO of Auddia is also the founder and majority shareholder of Holdings. As previously disclosed, to mitigate the conflicts inherent in related party transactions, in July 2025 the Auddia board formed a Special Committee of Independent Directors, who were represented by independent counsel in their consideration of the proposed business combination. Jeff Thramann did not participate in the deliberations of the Special Committee regarding the proposed business combination. Mr. Thramann also was recused from the board vote approving the Special Committee鈥檚 recommendation to proceed with executing the non-binding LOI for the proposed business combination. The Special Committee expects to engage an investment bank to serve as its financial advisor and provide a fairness opinion on the proposed business combination. The parties intend to negotiate a definitive business combination agreement that incorporates the provisions of the LOI as well as other terms and conditions typical for transactions of this nature.
The parties have agreed to a 30-day exclusivity period to negotiate a definitive business combination agreement, which will include customary closing conditions such as board and stockholder approvals, regulatory approvals, effectiveness of a registration statement relating to the issuance of Auddia common stock in the business combination and continued listing of the combined company鈥檚 common stock on Nasdaq. Closing will also be conditioned on Auddia raising at least
The Company will provide an update on the new operating plan of Auddia in the coming weeks, as well as details related to the operating companies within Holdings.
The proposed business combination is subject to a number of known and unknown risk and uncertainties. There can be no assurances that the parties will enter into a definitive business combination on the terms contemplated hereby or at all. Further, there can be no assurances that such business combination will be approved by stockholders or will ultimately be consummated.
About Thramann Holdings, LLC
Thramann Holdings is a holding company that controls LT350, Influence Healthcare, and Voyex, three AI native operating companies.
LT350 is a distributed AI data center company with 9 issued patents on a proprietary solar parking lot canopy that turns any parking lot into an AI data center. The Company has a strategic partnership with a top ten convenience store gas station brand that includes an equity investment and development of a pilot convenience store gas station. The partnership holds the potential to deploy the world鈥檚 largest distributed AI data center at the lowest possible cost by replacing existing gas station canopies with LT350 canopies.
Influence Healthcare is a value based care provider leveraging AI, blockchain, and vertical integration to empower surgeons to drive adoption of value based care to the surgical specialties.
Voyex is an agentic AI company addressing flight delays and cancellations, which are the largest pain points for air travelers.
About Auddia Inc.
Auddia, through its proprietary AI platform for audio identification and classification, is reinventing how consumers engage with AM/FM radio, podcasts, and other audio content. Auddia鈥檚 flagship audio superapp, called faidr, brings multiple industry firsts to the audio streaming landscape that include:
- subscription based, ad free listening on any AM/FM radio station
- content skipping across any AM/FM station
- one touch skipping of entire podcast ad breaks
- subscription based, ad free listening to podcast partners
faidr also delivers exclusive content and playlists, and showcases exciting new artists, hand-picked by curators and DJs. For more information, visit:聽
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934 about the Company's current expectations about future results, performance, prospects and opportunities. Statements that are not historical facts, such as "anticipates," "believes" and "expects" or similar expressions, are forward-looking statements. These forward-looking statements are based on the current plans and expectations of management and are subject to a number of uncertainties and risks that could significantly affect the Company's current plans and expectations, as well as future results of operations and financial condition. These and other risks and uncertainties are discussed more fully in our filings with the Securities and Exchange Commission. Readers are encouraged to review the section titled "Risk Factors" in the Company's Annual Report on Form 10-K for the year ended December 31, 2024, as well as other disclosures contained in the Annual Report and subsequent filings made with the Securities and Exchange Commission. Forward-looking statements contained in this announcement are made as of this date and the Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
Investor Relations:
Kirin Smith, President
PCG Advisory, Inc.
FAQ
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