---
schema_version: "secwatch.filing_event.v1"
accession: "0001493152-24-026286"
form_type: "8-K"
ticker: "RIME"
cik: "0000923601"
company_name: "Algorhythm Holdings, Inc."
filed_at: "2024-07-05T23:59:59+00:00"
generated_at: "2026-05-31T23:25:44.135965+00:00"
event_type: "m_and_a"
sentiment: "positive"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Singing Machine closes acquisition of AI logistics firm SemiCab; issues 641,806 shares

## Summary
- Completed acquisition of SemiCab, AI logistics platform, structured as asset purchase; issued 641,806 shares (approx 10% of outstanding) and assumed ~$2.6M liabilities.
- Also granted 20% membership interest in new subsidiary SemiCab Holdings LLC; option to buy SMCB Solutions for 320,903 additional shares.
- SemiCab claims technology improves freight utilization from 65% to 90%, enabling >10% cost savings for shippers.
- SemiCab selected by India's National Digital Freight Exchange (NDFE); SMCB subsidiary generated ~$1.4M in LTM sales.

## SEC filing metadata
- accession: 0001493152-24-026286
- form_type: 8-K
- ticker: RIME
- cik: 0000923601
- company_name: Algorhythm Holdings, Inc.
- filed_at: 2024-07-05T23:59:59+00:00
- event_type: m_and_a
- sentiment: positive
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 1.01, 2.01, 3.02, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/923601/000149315224026286/0001493152-24-026286-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/923601/000149315224026286/form8-k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001493152-24-026286
- JSON: https://secwatch.observer/filing/0001493152-24-026286.json
- Plain text: https://secwatch.observer/filing/0001493152-24-026286.txt

## Key facts
- M&A Transactions
  Algorhythm Holdings, Inc. completed an acquisition involving SemiCab, Inc. for 641,806 shares of its common stock, par value $0.01 (closed 2024-07-03).
  - Action: acquisition
  - Counterparty: SemiCab, Inc.
  - Consideration: 641,806 shares of its common stock, par value $0.01
  - Closing: 2024-07-03
  source text: he “Buyer”), SemiCab, Inc., a Delaware corporation (“SemiCab” or the “Seller”), Ajesh Kapoor and
  evidence_url: https://www.sec.gov/Archives/edgar/data/923601/000149315224026286/0001493152-24-026286-index.htm

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