secwatch.observer — SEC 8-K summary
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Issuer:     RYTHM, Inc. (RYM)
CIK:        0001800637
Form:       8-K
Filed at:   2024-01-31T23:59:59+00:00
Accession:  0001213900-24-008117
Event type: regulatory
Sentiment:  neutral
Materiality: 0.75
Item codes: 3.01, 8.01
LLM model:  deepseek-v4-flash:cloud@v2

Agrify gets Nasdaq extension to April 15, 2024 to regain compliance with $2.5M equity rule
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- Nasdaq Panel grants extension to April 15, 2024 to evidence compliance with Listing Rule 5550(b)(1) requiring $2.5M stockholders' equity.
- ~$3.9M of debt converted into equity at $1.46/share (212% of closing price) by entity controlled by CEO and board member.
- New lender forgave $1M in debt on Nov 30, 2023, to improve equity position.
- Company issued 2,685,629 shares upon warrant exercises, an increase of 210,000 shares from prior announcement.
- No assurance of regaining compliance; delisting risk remains if equity requirement not met by April 15.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1800637/000121390024008117/0001213900-24-008117-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1800637/000121390024008117/ea192524-8k_agrifycorp.htm
  HTML page:      https://secwatch.observer/filing/0001213900-24-008117

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