---
schema_version: "secwatch.filing_event.v1"
accession: "0001213900-23-004857"
form_type: "8-K"
ticker: "RYM"
cik: "0001800637"
company_name: "RYTHM, Inc."
filed_at: "2023-01-24T23:59:59+00:00"
generated_at: "2026-06-20T10:57:06.311881+00:00"
event_type: "other_material"
sentiment: "negative"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Agrify receives Nasdaq deficiency notice; appoints interim CFO, outlines cost savings plan

## Summary
- Nasdaq notified Agrify that stock bid price closed below $1.00 for 30 consecutive days; 180-day compliance period expires July 18, 2023.
- Timothy Hayden appointed Interim CFO effective March 1, 2023; previously SVP of Corporate Development and Chief Revenue Officer.
- Company targets up to $7 million in cost savings during 2023 to reduce cash burn and aims to be cash flow positive by year-end.
- Strategic focus shifts to Rapid Deployment Pack program and academic/pharmaceutical research; pauses construction-financed projects.
- Internal promotions: Rachel Soulsby to VP Marketing, Sheryl Elliott to VP HR, Caitlin Moakley Bricker to Chief of Staff, and Makenna Thompson to Director of Customer Experience.

## SEC filing metadata
- accession: 0001213900-23-004857
- form_type: 8-K
- ticker: RYM
- cik: 0001800637
- company_name: RYTHM, Inc.
- filed_at: 2023-01-24T23:59:59+00:00
- event_type: other_material
- sentiment: negative
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 3.01, 5.02, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1800637/000121390023004857/0001213900-23-004857-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1800637/000121390023004857/ea172124-8k_agrifycorp.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001213900-23-004857
- JSON: https://secwatch.observer/filing/0001213900-23-004857.json
- Plain text: https://secwatch.observer/filing/0001213900-23-004857.txt

## Key facts
- Listing & Compliance Notices
  RYTHM, Inc. received a nasdaq deficiency notice notice regarding minimum bid price (rules 5550(a)(2), 5810(c)(3)(A)).
  - Exchange: nasdaq
  - Notice: deficiency notice
  - Deficiency: minimum bid price
  - Rules: 5550(a)(2), 5810(c)(3)(A)
  source text: January 19, 2023, Agrify Corporation (the “Company”) received a deficiency letter (the “Notice”) from the Listing Qualifications Department (the “Staff”) of The Nasdaq Stock Market, LLC (“Nasdaq”) notifying the Company that, for the last 30 consecutive business days, the bid price for the Company’s common stock had closed below $1.00 per share, which is the minimum closing price required to maintain continued listing on the Nasdaq Stock Market under Nasdaq Listing Rule 5550(a)(2) (the “Minimum Bid Requirement”). The Notice has no immediate effect on the listing of the Company’s common stock on
  evidence_url: https://www.sec.gov/Archives/edgar/data/1800637/000121390023004857/0001213900-23-004857-index.htm
- Executive change
  Timothy Hayden was appointed as Interim Chief Financial Officer at RYTHM, Inc..
  - Action: appointed
  - Role: Interim Chief Financial Officer
  source text: On January 23, 2023, the Company’s Board of Directors appointed Timothy Hayden as the Company’s Interim Chief Financial Officer, and Mr. Hayden will assume the role of the Company’s principal financial and accounting officer, in each case effective as of March 1, 2023.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1800637/000121390023004857/0001213900-23-004857-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.