---
schema_version: "secwatch.filing_event.v1"
accession: "0001493152-21-019422"
form_type: "8-K"
ticker: "RIME"
cik: "0000923601"
company_name: "Algorhythm Holdings, Inc."
filed_at: "2021-08-12T23:59:59+00:00"
generated_at: "2026-06-29T14:24:50.768880+00:00"
event_type: "other_material"
sentiment: "neutral"
materiality_score: 0.8
calibrated_materiality_score: 0.8
confidence: "high"
source: SEC EDGAR
---

# Singing Machine redeems 19.6M shares from former majority owners; closes $10M private placement

## Summary
- Redeemed ~19.6M shares (~50.2% of outstanding) from Koncepts and Treasure Green for $7.16M; shareholders no longer hold any shares.
- Directors Phillip Lau, Peter Hon, Yat Tung Lau resigned effective Aug 10, 2021; CEO Gary Atkinson appointed to the Board.
- Private placement closed Aug 10: raised ~$10M through 16.5M shares + warrants at $0.35 and 16.8M pre-funded warrants at $0.01 per share.
- Proceeds from private placement exceeded the redemption price; company to use best efforts to list on a national exchange by Dec 31, 2021.

## SEC filing metadata
- accession: 0001493152-21-019422
- form_type: 8-K
- ticker: RIME
- cik: 0000923601
- company_name: Algorhythm Holdings, Inc.
- filed_at: 2021-08-12T23:59:59+00:00
- event_type: other_material
- sentiment: neutral
- materiality_score: 0.8
- calibrated_materiality_score: 0.8
- confidence: high
- sec_items: 1.01, 5.02, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/923601/000149315221019422/0001493152-21-019422-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/923601/000149315221019422/form8-k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001493152-21-019422
- JSON: https://secwatch.observer/filing/0001493152-21-019422.json
- Plain text: https://secwatch.observer/filing/0001493152-21-019422.txt

## Key facts
- Executive change
  Yat Tung Lau resigned as Director at Algorhythm Holdings, Inc..
  - Action: resigned
  - Role: Director
  source text: Phillip Lau, Peter Hon, and Yat Tung Lau (each a “Director” and together, the “Directors”) resigned from the Board of Directors of the Company.
  evidence_url: https://www.sec.gov/Archives/edgar/data/923601/000149315221019422/0001493152-21-019422-index.htm
- Executive change
  Phillip Lau resigned as Director at Algorhythm Holdings, Inc..
  - Action: resigned
  - Role: Director
  source text: Phillip Lau, Peter Hon, and Yat Tung Lau (each a “Director” and together, the “Directors”) resigned from the Board of Directors of the Company.
  evidence_url: https://www.sec.gov/Archives/edgar/data/923601/000149315221019422/0001493152-21-019422-index.htm
- Executive change
  Gary Atkinson was appointed as Director at Algorhythm Holdings, Inc..
  - Action: appointed
  - Role: Director
  source text: Effective August 11, 2021, following the opening of newly created vacancies on the Board, the Company announced the appointment of Mr. Gary Atkinson, current Chief Executive Officer of the Company, to the Board until the next annual meeting, or until his successor is elected and qualified, or until his resignation or removal.
  evidence_url: https://www.sec.gov/Archives/edgar/data/923601/000149315221019422/0001493152-21-019422-index.htm
- Executive change
  Peter Hon resigned as Director at Algorhythm Holdings, Inc..
  - Action: resigned
  - Role: Director
  source text: Phillip Lau, Peter Hon, and Yat Tung Lau (each a “Director” and together, the “Directors”) resigned from the Board of Directors of the Company.
  evidence_url: https://www.sec.gov/Archives/edgar/data/923601/000149315221019422/0001493152-21-019422-index.htm

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