secwatch.observer — SEC 8-K summary
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Issuer:     RYTHM, Inc. (RYM)
CIK:        0001800637
Form:       8-K
Filed at:   2024-11-05T23:59:59+00:00
Accession:  0001213900-24-094613
Event type: debt
Sentiment:  neutral
Materiality: 0.90
Item codes: 1.01, 2.03, 3.02, 5.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Agrify secures $20M Green Thumb note; CEO Chang resigns, Kovler named interim CEO
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- 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.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1800637/000121390024094613/0001213900-24-094613-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1800637/000121390024094613/ea0220100-8k_agrify.htm
  HTML page:      https://secwatch.observer/filing/0001213900-24-094613

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer