secwatch.observer — SEC 8-K summary
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Issuer:     Algorhythm Holdings, Inc. (RIME)
CIK:        0000923601
Form:       8-K
Filed at:   2026-05-11T23:59:59+00:00
Accession:  0001493152-26-022135
Event type: debt
Sentiment:  negative
Materiality: 0.70
Item codes: 1.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/923601/000149315226022135/0001493152-26-022135-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/923601/000149315226022135/form8-k.htm
  HTML page:      https://secwatch.observer/filing/0001493152-26-022135

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer