secwatch.observer — SEC 8-K summary
======================================

Issuer:     Algorhythm Holdings, Inc. (RIME)
CIK:        0000923601
Form:       8-K
Filed at:   2022-05-27T23:59:59+00:00
Accession:  0001493152-22-015375
Event type: other_material
Sentiment:  positive
Materiality: 0.85
Item codes: 1.01, 5.02, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Singing Machine raises $4M in public offering, uplists to Nasdaq Capital Market, appoints Jay Foreman to board
--------------------------------------------------------------------------------

- Public offering of 1,000,000 shares at $4.00/share; gross proceeds of $4.0M; closed May 26, 2022.
- Common stock uplisted to Nasdaq Capital Market under ticker MICS effective May 24, 2022; 1-for-30 reverse stock split.
- Underwriter Aegis Capital Corp. received warrants to purchase 100,000 shares at $5.00/share, 5-year term.
- Jay B. Foreman, founder/CEO of Basic Fun!, appointed to Board effective May 23, 2022 and invested in offering.
- Exercise price of certain warrants from August 2021 adjusted to $2.80 per share upon uplisting.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/923601/000149315222015375/0001493152-22-015375-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/923601/000149315222015375/form8-k.htm
  HTML page:      https://secwatch.observer/filing/0001493152-22-015375

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