Auddia Inc. announced that it has entered into a Securities Purchase Agreement with new individual investor Jeffrey Thramann to issue 1 Series A non-convertible preferred stock, par value $0.001 per share at an aggregate purchase price of $1,000 for the gross proceeds of $1,000 on November 11, 2023. The share of Series A Preferred Stock is not convertible into, or exchangeable for, shares of any other class or series of stock or other securities of the Company. The share of Series A Preferred Stock has no rights with respect to any distribution of assets of the Company, including upon a liquidation, bankruptcy, reorganization, merger, acquisition, sale, dissolution or winding up of the company, whether voluntarily or involuntarily.

The holder of the share of Series A Preferred Stock will not be entitled to receive dividends of any kind. The share of Series A Preferred Stock have not been registered under the Securities Act of 1933, as amended, or the securities laws of any state, and were offered and sold in reliance on the exemption from registration under the Securities Act afforded by Section 4(a)(2) thereof.