8-K
filed November 5, 2024, 6:59 PM ET
ticker RYM
CIK 0001800637
debt
confidence high
sentiment neutral
materiality 0.90
Agrify secures $20M Green Thumb note; CEO Chang resigns, Kovler named interim CEO
RYTHM, Inc.
- Issued $20M secured convertible note to Green Thumb subsidiary; $10M drawn at closing, 10% interest, conversion at $3.158, matures Nov 2025.
- Raymond Chang resigned as CEO and director; I-Tseng Jenny Chan resigned from board; no disagreement cited.
- Benjamin Kovler appointed Chairman and Interim CEO; Armon Vakili and Richard Drexler appointed to board.
- Severance agreement with Chang: $1M payable through Feb 1, 2027, plus COBRA reimbursement.
- Green Thumb subsidiary also acquired common stock and warrants from Chang and Chan in separate transaction.
Key facts
Extracted from this filing and checked against the source text.
Executive change
SEC 8-K Item 5.02
confidence 0.95
Benjamin Kovler was appointed as Chairman at RYTHM, Inc..
- Action
- appointed
- Role
- Chairman
Exact text from the filing
the Board appointed Benjamin Kovler as a member of the Board and Chairman
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.95
Raymond Chang resigned as President and Chief Executive Officer at RYTHM, Inc..
- Action
- resigned
- Role
- President and Chief Executive Officer
Exact text from the filing
Raymond Chang resigned as a member of the Board of Directors (the “Board”) of the Company and any subsidiaries and as President and Chief Executive Officer of the Company
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.9
Benjamin Kovler was appointed as Chief Executive Officer at RYTHM, Inc..
- Action
- appointed
- Role
- Chief Executive Officer
Exact text from the filing
Appointment of Chief Executive Officer Effective as of the Effective Time, the Company appointed Benjamin Kovler as its
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.95
I-Tseng Jenny Chan resigned as Director at RYTHM, Inc..
- Action
- resigned
- Role
- Director
Exact text from the filing
I-Tseng Jenny Chan resigned as a member of the Board.
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.95
Armon Vakili was appointed as Director at RYTHM, Inc..
- Action
- appointed
- Role
- Director
Exact text from the filing
appointed Armon Vakili and Richard Drexler as members of the Board.
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.95
Richard Drexler was appointed as Director at RYTHM, Inc..
- Action
- appointed
- Role
- Director
Exact text from the filing
appointed Armon Vakili and Richard Drexler as members of the Board.
View on SEC.gov
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