---
schema_version: "secwatch.filing_event.v1"
accession: "0001213900-23-057077"
form_type: "8-K"
ticker: "RYM"
cik: "0001800637"
company_name: "RYTHM, Inc."
filed_at: "2023-07-14T23:59:59+00:00"
generated_at: "2026-06-13T08:19:15.871142+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.55
calibrated_materiality_score: 0.55
confidence: "high"
source: SEC EDGAR
---

# Agrify issues $500K unsecured insider note to CEO-owned entity; matures August 6, 2023

## Summary
- Promissory note issued to GIC Acquisition, LLC, owned and managed by Chairman/CEO Raymond Chang.
- Principal up to $500,000; interest rate 10% per annum.
- Note matures in full on August 6, 2023; prepayable without penalty.
- Note ranks junior to all existing secured indebtedness of the company.

## SEC filing metadata
- accession: 0001213900-23-057077
- form_type: 8-K
- ticker: RYM
- cik: 0001800637
- company_name: RYTHM, Inc.
- filed_at: 2023-07-14T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.55
- calibrated_materiality_score: 0.55
- confidence: high
- sec_items: 1.01, 2.03, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1800637/000121390023057077/0001213900-23-057077-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1800637/000121390023057077/ea181831-8k_agrifycorp.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001213900-23-057077
- JSON: https://secwatch.observer/filing/0001213900-23-057077.json
- Plain text: https://secwatch.observer/filing/0001213900-23-057077.txt

## Key facts
- Debt Financings
  RYTHM, Inc. incurred loan of up to $500,000 with GIC Acquisition, LLC at 10% per annum maturing August 6, 2023.
  - Instrument: loan
  - Principal: up to $500,000
  - Counterparty: GIC Acquisition, LLC
  - Rate: 10% per annum
  - Maturity: August 6, 2023
  - Event: incurrence
  source text: On July 12, 2023, the Board of Directors of Agrify Corporation (the “Company”) approved the issuance of an unsecured promissory note (the “Note”) in favor of GIC Acquisition, LLC (the “Investor”), an entity that is owned and managed by Raymond Chang, the Company’s Chairman and Chief Executive Officer. Pursuant to the Note, the Investor will lend up to $500,000 to the Company. The Note bears interest at a rate of 10% per annum, will mature in full on August 6, 2023, and may be prepaid without any fee or penalty.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1800637/000121390023057077/0001213900-23-057077-index.htm
- Material Agreements
  RYTHM, Inc. entered into Note with GIC Acquisition, LLC valued at up to $500,000 (effective 2023-07-12).
  - Action: entry
  - Agreement: notes offering
  - Counterparty: GIC Acquisition, LLC
  - Value: up to $500,000
  - Effective: 2023-07-12
  source text: On July 12, 2023, the Board of Directors of Agrify Corporation (the “Company”) approved the issuance of an unsecured promissory note (the “Note”) in favor of GIC Acquisition, LLC (the “Investor”), an entity that is owned and managed by Raymond Chang, the Company’s Chairman and Chief Executive Officer. Pursuant to the Note, the Investor will lend up to $500,000 to the Company.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1800637/000121390023057077/0001213900-23-057077-index.htm

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