- **Auddia Inc.** has updated its corporate overview, reflecting a proposed business combination and restructuring aimed at transforming the company into a holding entity that provides **AI and web3 capabilities** to its portfolio companies.  **[1554818_0001683168-25-007609_auddia_ex9901.htm:0]** 
- The proposed name for the surviving public company, pending the business combination, is **McCarthy Finney** (NASDAQ: MCFN), a name chosen to honor John McCarthy, the father of AI, and Hal Finney, a key figure in digital currency.  **[1554818_0001683168-25-007609_auddia_ex9901.htm:0]** 
- Auddia is also shifting its faidr business model from a subscription-based direct-to-consumer approach to a **B2B model focused on AI-driven music discovery**.  **[1554818_0001683168-25-007609_auddia_ex9901.htm:0]** 
- Jeff Thramann, CEO and Chairman, is scheduled to present at the LD Micro Main Event XIX on **Tuesday, October 21, 2025, at 2:00 PM PT**.  **[1554818_0001683168-25-007609_auddia_ex9901.htm:0]**

Auddia updates corporate overview, announces proposed restructuring and B2B pivot

- Auddia Inc. has updated its corporate overview, detailing a proposed **restructuring into a holding company** focused on delivering AI and web3 capabilities to portfolio companies.  **[1554818_cb071b8871dd4e0d95d42fb433f4aca1_0]** 
- The company has identified **McCarthy Finney** (NASDAQ: MCFN) as the name of the surviving public company, assuming the closing of the proposed business combination.  **[1554818_cb071b8871dd4e0d95d42fb433f4aca1_0]** 
- Auddia is pivoting its faidr business model from a subscription-based direct-to-consumer approach to a **B2B model** focused on AI-driven music discovery.  **[1554818_cb071b8871dd4e0d95d42fb433f4aca1_0]** 
- The CEO and Chairman will present these updates at the LD Micro Main Event XIX on **October 21, 2025**, at 2:00 PM PT.  **[1554818_cb071b8871dd4e0d95d42fb433f4aca1_0]**

Auddia Updates Corporate Overview, Announces Restructuring and Business Model Pivot

- Auddia Inc. entered into an employment agreement with **Jeffrey Thramann**, effective **July 1, 2025**, appointing him as CEO in addition to his role as Executive Chairman, with an annual base salary of **$655,000** and eligibility for an annual bonus of up to **50% of his base salary**.  **[1554818_0001683168-25-006925_auddia_8k.htm:1]** 
- Stockholders approved an amendment to the 2020 Equity Incentive Plan on **September 8, 2025**, increasing the total number of shares reserved for issuance by **50,000** to **137,786**.  **[1554818_0001683168-25-006925_auddia_8k.htm:1]** **[1554818_0001683168-25-006925_auddia_8k.htm:2]** 
- The company extended its non-binding letter of intent for a proposed business combination with Thramann Holdings, LLC by **45 days**, with the new exclusivity period expiring on **October 18, 2025**.  **[1554818_0001683168-25-006925_auddia_8k.htm:3]**

Auddia Inc. Announces CEO Compensation, Equity Plan Amendment, and Business Combination LOI Extension

- Auddia Inc. announced a **restructuring of its engineering team** aimed at significantly reducing costs and aligning with its planned AI native holding company structure upon closing of a proposed business combination.  **[1554818_c04efdb4ae39498caf7473da9d60ffd6_0]** 
- This restructuring is projected to **reduce engineering costs by $750,000 annually**.  **[1554818_c04efdb4ae39498caf7473da9d60ffd6_0]** 
- As part of the restructuring, **Peter Shoebridge, Auddia CTO, will be leaving** the Company at the end of August, while **Pablo Calderon, Auddia’s head of engineering, will join the AI team at the holding company level**.  **[1554818_c04efdb4ae39498caf7473da9d60ffd6_0]** 
- The company's business model is changing from a **consumer subscription model to a B2B SaaS model**.  **[1554818_c04efdb4ae39498caf7473da9d60ffd6_0]** 
- The internal AI team will focus on training and productizing the **AI Placement Engine**, and a dedicated outsourced engineering team will lead development of the **Discovr Radio Portal**, aiming for more capital efficient and faster product development.  **[1554818_c04efdb4ae39498caf7473da9d60ffd6_0]**

AUDDIA (AUUD)