Recent Updates — RIME
Algorhythm Holdings, Inc. entered into a settlement agreement with Continuation Capital, Inc. to resolve $1,928,014 in outstanding liabilities through the issuance of up to 5,000,000 shares of common stock until 120% of the claim amount is recovered. The company also amended and restated employment agreements for CEO Gary Atkinson and CFO Alex Andre to harmonize change of control bonus provisions. Algorhythm Holdings, Inc. operates in the technology sector and provides algorithmic trading solutions.
Algorhythm Holdings, Inc. entered into an exchange agreement with Streeterville Capital, LLC on June 29, 2026, to partition a $3,500,000 portion of its Secured Pre-Paid Purchase #4 debt and exchange it for 3,500 shares of newly created Series A Preferred Stock. The Series A Preferred Stock ranks senior to common stock and accrues a 9% annual preferred return on a $1,150 stated value per share, which compounds daily and is payable quarterly in cash or additional shares. Following the exchange, the outstanding balance of Secured Pre-Paid Purchase #4 is $7,202,371.69. Algorhythm Holdings, Inc. operates in the technology sector and provides algorithmic trading solutions or related financial technology services.
On June 16, 2026, Algorhythm Holdings, Inc. entered into a second forbearance agreement with SemiCab, Inc. regarding a $1,750,000 promissory note issued on May 2, 2025. The agreement waives defaults resulting from the company's failure to make a $1,500,000 initial payment due on May 2, 2026, and extends the forbearance period to July 16, 2026. A remaining balance of $250,000 remains due on November 2, 2026. The company operates in the technology sector providing algorithmic solutions.
Algorhythm Holdings, Inc. received a notification from Nasdaq regarding its failure to meet the $1.00 minimum bid price requirement for continued listing on The Nasdaq Capital Market. The company has a 180-day compliance period ending December 14, 2026, to regain compliance, with a potential for an additional 180-day period if certain conditions are met. Algorhythm Holdings, Inc. is a technology-focused company operating in the technology sector.