Singing Machine enters $1.75M at-the-market equity offering with Aegis Capital

Algorhythm Holdings, Inc.

Entered into ATM sales agreement with Aegis Capital Corp to sell up to $1,753,430 in common stock.
Commission of 3.0% of gross proceeds; Agent will use commercially reasonable efforts to sell shares.
Offering may be terminated by either party; expires after 18 months or upon sale of all shares.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Algorhythm Holdings, Inc. entered into Sales Agreement with Aegis Capital Corp valued at up to $1,753,430 (effective 2023-02-15).

Action: entry
Agreement: atm program
Counterparty: Aegis Capital Corp
Value: up to $1,753,430
Effective: 2023-02-15

Exact text from the filing

On February 15, 2023, The Singing Machine Company, Inc. (the "Company"), entered into an At-The-Market Issuance Sales Agreement (the "Sales Agreement") with Aegis Capital Corp, as sales agent (the "Agent"), pursuant to which the Company may offer and sell, from time to time, through the Agent (the "Offering"), up to $1,753,430 in shares of its common stock.

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Algorhythm Holdings, Inc. filing history →

Source: SEC EDGAR

accession 0001493152-23-005442

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