Auddia signs third non-binding LOI for streaming audio M&A strategy

Auddia announced the execution of a third non-binding letter of intent as part of its buy-side M&A strategy aimed at cost effectively growing its user base. In June 2023, the Company announced it had executed two non-binding LOIs, targeting audio-streaming applications with a combined user base of more than 8 million AM/FM streamers. These potential acquisitions are continuing to make progress towards execution of binding purchase agreements. The closing of any of our three proposed acquisitions will be contingent upon securing adequate financing. The Company will provide updates on the M&A strategy as definitive purchase agreements are executed. The closing of any proposed acquisitions will be contingent on securing additional financing.