---
schema_version: "secwatch.filing_event.v1"
accession: "0001213900-23-033012"
form_type: "8-K"
ticker: "RYM"
cik: "0001800637"
company_name: "RYTHM, Inc."
filed_at: "2023-04-27T23:59:59+00:00"
generated_at: "2026-06-16T09:17:52.737095+00:00"
event_type: "other_material"
sentiment: "neutral"
materiality_score: 0.8
calibrated_materiality_score: 0.8
confidence: "high"
source: SEC EDGAR
---

# Agrify exchanges $2M of debt for 8.9M common shares with High Trail

## Summary
- Agrify exchanged $2.0M of senior secured note principal for 8,903,927 common shares with High Trail Special Situations LLC.
- Exchange shares are unregistered, issued under Section 3(a)(9) exemption; eligible for Rule 144 resale without restrictive legend.
- Beneficial ownership limit of 4.99% applies; shares exceeding limit held in abeyance until permitted.
- Closing expected on or around May 1, 2023, subject to customary conditions.
- Transaction reduces remaining principal under August 2022 note; prior exchanges totaled $35.2M+ in prepayments.

## SEC filing metadata
- accession: 0001213900-23-033012
- form_type: 8-K
- ticker: RYM
- cik: 0001800637
- company_name: RYTHM, Inc.
- filed_at: 2023-04-27T23:59:59+00:00
- event_type: other_material
- sentiment: neutral
- materiality_score: 0.8
- calibrated_materiality_score: 0.8
- confidence: high
- sec_items: 1.01, 3.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1800637/000121390023033012/0001213900-23-033012-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1800637/000121390023033012/ea177539-8k_agrify.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001213900-23-033012
- JSON: https://secwatch.observer/filing/0001213900-23-033012.json
- Plain text: https://secwatch.observer/filing/0001213900-23-033012.txt

## Key facts
- Material Agreements
  RYTHM, Inc. entered into Letter Agreement with Lender valued at Exchanged $2.0 million of the August 2022 Note for 8,903,927 shares of common stock (effective 2023-04-26).
  - Action: entry
  - Counterparty: Lender
  - Value: Exchanged $2.0 million of the August 2022 Note for 8,903,927 shares of common stock
  - Effective: 2023-04-26
  source text: On April 26, 2023, the Company entered into a letter agreement with the Lender (the “Letter Agreement”), pursuant to which the Company and the Lender agreed to exchange $2.0 million of the remaining outstanding principal amount under the August 2022 Note for 8,903,927 shares (the “Exchange Shares”) of common stock of the Company, par value $0.001 per share (the “Common Stock”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/1800637/000121390023033012/0001213900-23-033012-index.htm

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