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 1.01item 9.01

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