Auddia Inc. (NASDAQ:AUUD) said Wednesday that its board has approved a definitive merger agreement with privately held Thramann Holdings, LLC, advancing plans first outlined in a letter of intent signed in August 2025.
The proposed deal will reorganize Auddia into a new holding company named McCarthy Finney, which is expected to trade under the ticker MCFN. Following completion, existing Auddia shareholders are projected to hold roughly 20% of the combined company, while Thramann Holdings founder Jeff Thramann will control approximately 80%.
As part of the structure, Auddia will become a wholly owned subsidiary of McCarthy Finney, alongside three Thramann-controlled businesses: LT350, Influence Healthcare and Voyex. These units operate in AI-focused data centers, healthcare technology and travel services, respectively.
Jeff Thramann will remain chief executive officer of the combined group, and John Mahoney is set to continue as chief financial officer. Current Auddia board members are expected to retain their positions after the merger closes.
The agreement stipulates that Auddia must have at least $12 million in cash at closing to support ongoing operations. Based on management’s discounted cash flow projections, McCarthy Finney’s base-case valuation is estimated at $250 million.
Thramann, identified as a serial entrepreneur and inventor with more than 130 patents to his name, has previously taken both Auddia and Aclarion public and has sold multiple businesses to public companies and private equity buyers.
The merger has received unanimous approval from both companies’ boards and is anticipated to close in the second quarter of 2026, subject to shareholder approval, SEC registration and continued compliance with Nasdaq listing standards.
Houlihan Capital delivered a fairness opinion to Auddia’s special committee and board regarding the terms of the transaction.
The details in this report are based on a press release issued by Auddia Inc.
Separate Update: faidr App Strategy Shift
In a separate development, Auddia recently announced that it has made all premium features of its faidr mobile application available at no cost to users. The move reflects a pivot toward a business-to-business strategy centered on artist discovery.
The faidr app, which offers ad-free AM/FM radio streaming with AI-enabled song skipping, is seeking to broaden its user base through the free access model. The initiative underscores Auddia’s effort to reposition itself and expand in a competitive digital audio landscape.