{"schema_version":"secwatch.filing_event.v1","accession":"0001213900-23-018686","form_type":"8-K","ticker":"RYM","cik":"0001800637","company_name":"RYTHM, Inc.","filed_at":"2023-03-09T23:59:59+00:00","discovered_at":"2026-05-14T18:03:46.588608+00:00","generated_at":"2026-06-18T07:27:44.587814+00:00","sec_items":["1.01","2.03","3.02","8.01","9.01"],"event_type":"debt","sentiment":"positive","materiality_score":0.75,"calibrated_materiality_score":0.75,"confidence":"high","headline":"Agrify signs debt modification: principal cut to ~$11.7M, interest savings ~$1M/yr","bullets":["Outstanding debt reduced from ~$32M to ~$11.675M after $10.3M cash prepayment and $10M exchange for convertible note.","Convertible note matures Aug 2025, bears 9.0% interest, convertible at $0.3820/share; lender capped at 4.99% ownership (may increase to 9.99%).","Working capital and restricted cash covenants eliminated; $3M mandatory prepayment of August 2022 Note required by Dec 31, 2023.","Annual interest expense expected to decrease by approximately $1 million.","Lender may convert additional $10M of remaining August 2022 Note into convertible note on Aug 19, 2023, subject to conditions."],"urls":{"canonical":"https://secwatch.observer/filing/0001213900-23-018686","json":"https://secwatch.observer/filing/0001213900-23-018686.json","markdown":"https://secwatch.observer/filing/0001213900-23-018686.md","text":"https://secwatch.observer/filing/0001213900-23-018686.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1800637/000121390023018686/0001213900-23-018686-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1800637/000121390023018686/ea174704-8k_agrifycorp.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-06-18T07:27:44.587814+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[{"claim_id":"b2ff4143ffda0ae867a241f4d71e50c26f23bdf4","claim":"RYTHM, Inc. amended senior notes of Prepayment of approximately $10.3 million and exchange of $10.0 million for Convertible Note with Lender at Not specified maturing Not specified.","evidence_excerpt":"into a new Securities Exchange Agreement (the “ Exchange Agreement ”) with the Lender. Pursuant to the Exchange Agreement, at closing the Company will prepay approximately $10.3 million in principal amount under the August 2022 Note and exchange $10.0 in principal amount of the remaining balance of the August 2022 Note for a new senior secured convertible note","evidence_source":"SEC 8-K Item 2.03/2.04","evidence_url":"https://www.sec.gov/Archives/edgar/data/1800637/000121390023018686/0001213900-23-018686-index.htm","confidence":0.7,"family_label":"Debt Financings","details":[{"label":"Instrument","value":"senior notes"},{"label":"Principal","value":"Prepayment of approximately $10.3 million and exchange of $10.0 million for Convertible Note"},{"label":"Counterparty","value":"Lender"},{"label":"Rate","value":"Not specified"},{"label":"Maturity","value":"Not specified"},{"label":"Event","value":"amendment"}],"fact_type":"debt_financing"},{"claim_id":"65f6cf4926bd11266dfdf4376a73cc416f6656d9","claim":"RYTHM, Inc. entered into Securities Exchange Agreement with Lender valued at Prepayment of approximately $10.3 million principal under the August 2022 Note and exchange of $10.0 (effective 2023-03-08).","evidence_excerpt":"On March 8, 2023, the Company entered into a new Securities Exchange Agreement (the “ Exchange Agreement ”) with the Lender.","evidence_source":"SEC 8-K Item 1.01/1.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/1800637/000121390023018686/0001213900-23-018686-index.htm","confidence":0.95,"family_label":"Material Agreements","details":[{"label":"Action","value":"entry"},{"label":"Counterparty","value":"Lender"},{"label":"Value","value":"Prepayment of approximately $10.3 million principal under the August 2022 Note and exchange of $10.0"},{"label":"Effective","value":"2023-03-08"}],"fact_type":"material_agreement"},{"claim_id":"c408e18dfafa3267a8de9d96a6f455238ce43f49","claim":"RYTHM, Inc. amended Note Amendment with Lender valued at Amendment to the August 2022 Note to remove covenants. (effective 2023-03-08).","evidence_excerpt":"Note Amendment Concurrently with the closing under the Exchange Agreement, the Company and the Lender will enter into an Amendment to the August 2022 Note (the “ Note Amendment ”).","evidence_source":"SEC 8-K Item 1.01/1.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/1800637/000121390023018686/0001213900-23-018686-index.htm","confidence":0.95,"family_label":"Material Agreements","details":[{"label":"Action","value":"amendment"},{"label":"Agreement","value":"credit facility"},{"label":"Counterparty","value":"Lender"},{"label":"Value","value":"Amendment to the August 2022 Note to remove covenants."},{"label":"Effective","value":"2023-03-08"}],"fact_type":"material_agreement"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}