New York, Feb 18, 2026, 06:11 EST — Premarket
- AUUD jumped roughly 50% in premarket trading following news of its merger agreement.
- The company is set to adopt the McCarthy Finney name and switch its ticker to MCFN once the deal wraps up.
- The deal hinges on a shareholder vote, SEC registration, and a minimum of $12 million in cash at closing.
Auddia Inc shot up nearly 50% ahead of the bell Wednesday, following news of a definitive merger deal that will reorganize the firm as a new holding company. Shares changed hands at $1.25, a 49.7% gain, as of 5:58 a.m. EST. That comes after a 24% surge at Tuesday’s close, according to StockAnalysis.com data. (StockAnalysis)
Boulder’s audio tech outfit said it’s set to combine with Thramann Holdings and rebrand as McCarthy Finney. The Nasdaq ticker would switch to MCFN after closing. “I believe there is an incredible opportunity for a company at the juncture of AI and web3,” Auddia CEO Jeff Thramann said. Management is putting the combined entity’s “base case” value at $250 million, citing a discounted cash flow model to arrive at the figure.
This setup isn’t typical for a Nasdaq microcap. According to a securities filing, Thramann holders are slated to control roughly 80% of the economic interest in the new parent, leaving about 20% to Auddia common shareholders. Thramann holders are also lined up to receive $3.5 million in unsecured notes, carrying 8% annual interest and due in two years. The filing notes the ownership split could shift depending on Auddia’s net cash at closing. The deal hinges on Auddia having at least $12 million in net cash—and several other approvals. (SEC)
Auddia built its reputation with “faidr,” a mobile app pitched at users who want to skip ads and jump between AM/FM music stations, plus one-tap podcast ad skipping. If the merger goes through, Auddia would join a wider roster of Thramann-run ventures covering distributed AI data centers, health tech, and travel, the company said.
The companies have shifted from a non-binding letter of intent signed last year to a full agreement, locking in a definitive timeline for what had previously been an extended strategic review. Auddia said it expects to wrap up the transaction in the second quarter of 2026.
Still, shares are higher despite a stack of hurdles. Auddia shareholders have to give the green light. There’s also the need for an effective Form S-4 registration statement with the SEC—the standard paperwork for these stock-for-stock transactions. And on top of that, the companies need Nasdaq to approve listing for the merged entity.
Cash could be the immediate concern here. Auddia needs to show up at closing with no less than $12 million available, and per the filing, the ownership “ratchet” puts current holders at risk of even more dilution if net cash falls short of that threshold.
Next up for traders: they’ll be eyeing any pre-close financing moves to bolster Auddia’s cash position, plus that initial deep dive into McCarthy Finney’s numbers when the S-4 finally lands.
Auddia is expected to release its next earnings report on March 4, according to MarketBeat’s tracking of previous schedules. Investors will be watching for any detail on cash reserves before the transaction’s targeted close in the second quarter. (Marketbeat)
