Auddia Executes Reverse Stock Split to Maintain Nasdaq Listing

Auddia, the company behind the AI-based faidr streaming app that removes commercials from live terrestrial radio for paying subscribers, has announced a 1-for-17 reverse stock split of its common stock, effective with today’s Nasdaq stock market opening.

The move is aimed at helping the company meet Nasdaq’s continued listing requirements after months of declining stock performance.

The split will consolidate every 17 existing shares into one, reducing Auddia’s outstanding common shares from roughly 8.67 million to approximately 510,000. Based on a Friday share price of $0.22, the post-split value would open around $3.74. The company’s stock, trading under the ticker “AUUD,” has not exceeded $1 since September 2024 and has fallen 89% over the past year.

Shareholders approved a reverse stock split in late 2024, but left the final ratio to the board of directors. The decision comes just days after Auddia closed $3.5 million in new financing through the sale of 1.3 million common shares, part of a previously announced equity line.

Auddia said the reverse stock split is essential for maintaining compliance with Nasdaq rules and preserving its listing on the exchange. The split will not affect the company’s authorized share count. Fractional shares will not be issued, but instead rounded up to the nearest whole share at the participant level.