RYTHM, Inc. (RYM): restructuring charge — Agrify discontinues legacy extraction business, cuts 9 employees, pivots to hemp beverages

RYTHM, Inc.

Board approved discontinuation of extraction business (hydrocarbon, alcohol, solventless, post-processing, lab equipment).
Workforce reduction of nine employees expected by April 1, 2025.
Company to dispose of remaining extraction inventory; charges not yet quantified.
Company will refocus resources on its hemp-derived beverage business.
Amendment to be filed within four business days if material charges are determined.

Key facts

Extracted from this filing and checked against the source text.

Restructurings & Charges SEC 8-K Item 2.05/2.06 confidence 0.92

RYTHM, Inc. announced a restructuring with charges of costs associated with exit or disposal activities affecting legacy extraction business (nine employees).

Type: restructuring
Charge: costs associated with exit or disposal activities
Affected area: legacy extraction business
Headcount: nine employees

Exact text from the filing

the Company expects to reduce its workforce by nine employees by April 1, 2025 and to dispose of any remaining inventory relating to the Extraction Business

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RYTHM, Inc. filing history →

Source: SEC EDGAR

accession 0001213900-25-026300

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