New York, Feb 18, 2026, 06:11 EST — Before the bell
- AUUD surged about 50% ahead of the bell after the merger announcement hit.
- Once the deal closes, the company plans to take on the McCarthy Finney name and update its ticker to MCFN.
- Shareholders still need to approve the deal, SEC registration remains pending, and closing requires at least $12 million in cash.
Auddia Inc soared close to 50% in premarket trade Wednesday after announcing a definitive merger agreement that will see the company restructure under a new holding company. The stock was last up 49.7% at $1.25 as of 5:58 a.m. EST. Tuesday’s session had already seen shares jump 24%, StockAnalysis.com data show. (StockAnalysis)
Boulder’s audio tech firm plans to merge with Thramann Holdings and roll out a new name: McCarthy Finney. After the deal wraps up, the Nasdaq ticker changes to MCFN. “I believe there is an incredible opportunity for a company at the juncture of AI and web3,” said Auddia CEO Jeff Thramann. The management team pegs the merged group’s “base case” valuation at $250 million—using a discounted cash flow approach to back up the estimate.
This isn’t your standard Nasdaq microcap arrangement. The securities filing shows Thramann holders are set to claim around 80% of the new parent company’s economic interest, leaving Auddia’s common shareholders with the remaining 20%. On top of that, Thramann holders are in line for $3.5 million worth of unsecured notes—these pay 8% interest a year and mature in two years. The document points out the split could shift, depending on where Auddia’s net cash lands at the close. As it stands, the deal’s contingent on Auddia bringing in at least $12 million in net cash, plus a handful of other approvals. (SEC)
Auddia first made a name for itself with “faidr,” billing the mobile app to listeners aiming to skip ads and flip between AM/FM music stations, and promising one-tap podcast ad skipping. Should the merger happen, Auddia would sit alongside a broader Thramann-led group spanning distributed AI data centers, health tech, and travel, according to the company.
After initially signing a non-binding letter of intent last year, the companies have now moved to a full agreement, setting a firm timeline for a deal that had been under lengthy strategic review. Auddia expects to close the transaction in the second quarter of 2026.
Even so, shares have climbed, brushing off a series of obstacles. Auddia shareholders still need to sign off. The merger also hinges on a declared-effective Form S-4 registration statement with the SEC—typical fare for stock-for-stock deals. Add to that: the companies are waiting on Nasdaq’s nod to list the combined company.
Cash stands out as the pressing issue. Auddia must arrive at closing with at least $12 million in hand. The filing spells out that the ownership “ratchet” could expose existing holders to even deeper dilution if net cash doesn’t meet the required minimum.
Traders now watch for any last-minute financing from Auddia to strengthen its cash reserves. After that, the real action starts when McCarthy Finney’s numbers arrive with the S-4, setting up the first close look at the books.
MarketBeat lists March 4 as the anticipated date for Auddia’s next earnings release. Ahead of the planned transaction closing in the second quarter, investors are likely to zero in on cash reserve updates. (Marketbeat)
