{"schema_version":"secwatch.filing_event.v1","accession":"0001493152-23-042523","form_type":"8-K","ticker":"RIME","cik":"0000923601","company_name":"Algorhythm Holdings, Inc.","filed_at":"2023-11-22T23:59:59+00:00","discovered_at":"2026-05-14T18:03:32.424233+00:00","generated_at":"2026-06-07T22:27:33.303360+00:00","sec_items":["1.01","1.02","3.02","9.01"],"event_type":"other_material","sentiment":"positive","materiality_score":0.7,"calibrated_materiality_score":0.7,"confidence":"high","headline":"Singing Machine raises ~$2M in private placement and terminates Fifth Third Bank credit facility","bullets":["Sold 2,197,802 shares at $0.91 per share (3% premium) for gross proceeds of approx. $2 million.","Purchasers: Regalia Ventures LLC owned by director Jay Foreman and Stingray Group Inc. (director Mathieu Peloquin is officer).","Terminated Credit and Security Agreement with Fifth Third Bank, repaying outstanding balance of ~$16,662.61.","Shares issued under Section 4(a)(2) exemption; purchasers get board nomination rights while owning 5% or more."],"urls":{"canonical":"https://secwatch.observer/filing/0001493152-23-042523","json":"https://secwatch.observer/filing/0001493152-23-042523.json","markdown":"https://secwatch.observer/filing/0001493152-23-042523.md","text":"https://secwatch.observer/filing/0001493152-23-042523.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/923601/000149315223042523/0001493152-23-042523-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/923601/000149315223042523/form8-k.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-06-07T22:27:33.303360+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[{"claim_id":"51af643ad9f44227b64ead04833f211b4ba0904a","claim":"Algorhythm Holdings, Inc. entered into Purchase Agreement with two purchasers valued at approximately $2 million (effective 2023-11-20).","evidence_excerpt":"On November 20, 2023, The Singing Machine Company, Inc. (the “Company”) entered into a stock purchase agreement (the “Purchase Agreement”) with two purchasers (the “Purchasers”) pursuant to which the Company sold an aggregate of 2,197,802 shares (the “Shares”) of its common stock at a price of $0.91 per share, representing a 3% premium to the closing price of the Company’s common stock on November 17, 2023 (the “Offering”).","evidence_source":"SEC 8-K Item 1.01/1.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/923601/000149315223042523/0001493152-23-042523-index.htm","confidence":0.9,"family_label":"Material Agreements","details":[{"label":"Action","value":"entry"},{"label":"Agreement","value":"equity purchase"},{"label":"Counterparty","value":"two purchasers"},{"label":"Value","value":"approximately $2 million"},{"label":"Effective","value":"2023-11-20"}],"fact_type":"material_agreement"},{"claim_id":"83ccaa957855db29085a7afbc06def5583c826ee","claim":"Algorhythm Holdings, Inc. terminated Credit Agreement with Fifth Third Bank, National Association valued at approximately $16,662.61 (effective 2023-11-17).","evidence_excerpt":"On November 17, 2023 (the “Termination Date”), the Company terminated the Credit and Security Agreement with Fifth Third Bank, National Association, dated October 14, 2022 (the “Credit Agreement”).","evidence_source":"SEC 8-K Item 1.01/1.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/923601/000149315223042523/0001493152-23-042523-index.htm","confidence":0.9,"family_label":"Material Agreements","details":[{"label":"Action","value":"termination"},{"label":"Agreement","value":"credit facility"},{"label":"Counterparty","value":"Fifth Third Bank, National Association"},{"label":"Value","value":"approximately $16,662.61"},{"label":"Effective","value":"2023-11-17"}],"fact_type":"material_agreement"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}