---
schema_version: "secwatch.filing_event.v1"
accession: "0001493152-26-022135"
form_type: "8-K"
ticker: "RIME"
cik: "0000923601"
company_name: "Algorhythm Holdings, Inc."
filed_at: "2026-05-11T23:59:59+00:00"
generated_at: "2026-05-14T19:26:11.326090+00:00"
event_type: "debt"
sentiment: "negative"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0001493152-26-022135
- form_type: 8-K
- ticker: RIME
- cik: 0000923601
- company_name: Algorhythm Holdings, Inc.
- filed_at: 2026-05-11T23:59:59+00:00
- event_type: debt
- sentiment: negative
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 1.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/923601/000149315226022135/0001493152-26-022135-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/923601/000149315226022135/form8-k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001493152-26-022135
- JSON: https://secwatch.observer/filing/0001493152-26-022135.json
- Plain text: https://secwatch.observer/filing/0001493152-26-022135.txt

## Key facts
- Material Agreements
  Algorhythm Holdings, Inc. entered into Forbearance Agreement with SemiCab Inc. (effective 2026-05-09).
  - Action: entry
  - Counterparty: SemiCab Inc.
  - Effective: 2026-05-09
  source text: 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
  evidence_url: https://www.sec.gov/Archives/edgar/data/923601/000149315226022135/0001493152-26-022135-index.htm

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