{"schema_version":"secwatch.filing_event.v1","accession":"0001493152-24-013045","form_type":"8-K","ticker":"RIME","cik":"0000923601","company_name":"Algorhythm Holdings, Inc.","filed_at":"2024-04-03T23:59:59+00:00","discovered_at":"2026-05-14T18:03:22.505728+00:00","generated_at":"2026-06-04T03:13:39.019007+00:00","sec_items":["1.01","8.01","9.01"],"event_type":"debt","sentiment":"positive","materiality_score":0.4,"calibrated_materiality_score":0.4,"confidence":"high","headline":"Singing Machine closes $2M senior credit facility with Oxford Commercial Finance","bullets":["Revolving line of credit of $2 million; interest at Prime + 2.5% with a 10% floor.","2-year term; secured by all company assets; no financial covenants.","Facility expands receivables financing beyond existing C2FO early-pay program.","Minimum average loan balance of $570,000 per month; early exit fee of 2% of loan cap.","CEO Gary Atkinson says cost is well within prevailing market rates."],"urls":{"canonical":"https://secwatch.observer/filing/0001493152-24-013045","json":"https://secwatch.observer/filing/0001493152-24-013045.json","markdown":"https://secwatch.observer/filing/0001493152-24-013045.md","text":"https://secwatch.observer/filing/0001493152-24-013045.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/923601/000149315224013045/0001493152-24-013045-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/923601/000149315224013045/form8-k.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-06-04T03:13:39.019007+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":"9190a104ee870cecb08081c4124aac284d1a6547","claim":"Algorhythm Holdings, Inc. entered into Loan Agreement with Oxford Commercial Finance valued at $2 million (effective 2024-03-28).","evidence_excerpt":"On March 28, 2024 (the “Closing Date”), The Singing Machine Company, Inc. (the “Company”) and Oxford Commercial Finance, a Michigan banking corporation, (referred to as “Oxford”) entered into a Loan Agreement (the “Loan Agreement”) and related Revolving Credit Note (the “Note”) for a $2 million revolving line of credit (the “Line of Credit”).","evidence_source":"SEC 8-K Item 1.01/1.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/923601/000149315224013045/0001493152-24-013045-index.htm","confidence":0.9,"family_label":"Material Agreements","details":[{"label":"Action","value":"entry"},{"label":"Agreement","value":"credit facility"},{"label":"Counterparty","value":"Oxford Commercial Finance"},{"label":"Value","value":"$2 million"},{"label":"Effective","value":"2024-03-28"}],"fact_type":"material_agreement"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}