secwatch.observer — SEC 8-K summary
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Issuer:     Algorhythm Holdings, Inc. (RIME)
CIK:        0000923601
Form:       8-K
Filed at:   2025-12-29T23:59:59+00:00
Accession:  0001493152-25-029389
Event type: debt
Sentiment:  negative
Materiality: 0.60
Item codes: 1.01, 2.03, 3.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Algorhythm Holdings secures $1.09M debt from Streeterville Capital with 9% interest and equity conversion at 90% of VWAP
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- Secured Pre-Paid Purchase #3 with principal $1,090,000, including $90,000 original issue discount; net proceeds $1,000,000.
- Interest 9% per annum; maturity 3 years from December 19, 2025; prepayment allowed at 110% of outstanding balance.
- Streeterville can convert principal into common shares at 90% of lowest 10-day VWAP, subject to 9.99% ownership cap.
- Placement agent Univest Securities received 8% cash fee on gross proceeds; offering exempt under Section 4(a)(2).
- Debt is secured by guarantees, pledges, security agreements, and IP security agreement from prior August 2025 purchase agreement.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/923601/000149315225029389/0001493152-25-029389-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/923601/000149315225029389/form8-k.htm
  HTML page:      https://secwatch.observer/filing/0001493152-25-029389

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