secwatch.observer — SEC 8-K summary
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Issuer:     Algorhythm Holdings, Inc. (RIME)
CIK:        0000923601
Form:       8-K
Filed at:   2024-11-07T23:59:59+00:00
Accession:  0001493152-24-044039
Event type: other_material
Sentiment:  neutral
Materiality: 0.60
Item codes: 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Algorhythm Holdings repurchases 1,098,901 shares from director-affiliated entity via note
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- Repurchased 1,098,901 shares of common stock from Regalia Ventures LLC, wholly owned by director Jay Foreman.
- Purchase price equals higher of prior day's closing price or highest 10-day VWAP; paid via promissory note.
- Shares originally issued to Regalia Ventures on Nov 21, 2023 under a stock purchase agreement.
- Repurchased shares will be cancelled and retired; board unanimously approved the transaction.
- Consideration is a promissory note with principal equal to the formula-based price; terms not yet specified.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/923601/000149315224044039/0001493152-24-044039-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/923601/000149315224044039/form8-k.htm
  HTML page:      https://secwatch.observer/filing/0001493152-24-044039

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