Algorhythm Holdings misses $1.5M note payment, enters forbearance with SemiCab until June 16

Algorhythm Holdings, Inc.

Missed $1.5M initial payment due May 2, 2026 on $1.75M promissory note to SemiCab Inc.
Entered forbearance agreement on May 9, 2026 waiving default and forbearing from action until June 16, 2026.
Remaining $250K due Nov 2, 2026; note terms otherwise unchanged.
Forbearance provides temporary relief; company must address payment by June 16 to avoid acceleration.

item 1.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Algorhythm Holdings, Inc. entered into Forbearance Agreement with SemiCab Inc. (effective 2026-05-09).

Action: entry
Counterparty: SemiCab Inc.
Effective: 2026-05-09

Exact text from the filing

Promissory Note”) to SemiCab Inc., a Delaware corporation (the “Seller”), pursuant to an equity purchase agreement (the “Equity Purchase Agreement”) among the Company and its subsidiary, SemiCab Holdings, LLC, a Nevada limited liability

View on SEC.gov

246 material agreements filed in the last 30 days. Browse all material agreements →

Algorhythm Holdings, Inc. filing history →

Source: SEC EDGAR

accession 0001493152-26-022135

view filing index on sec.gov

view primary document

Machine-readable: JSON · Markdown · Plain text

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.