secwatch.observer — SEC 8-K summary
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Issuer:     Algorhythm Holdings, Inc. (RIME)
CIK:        0000923601
Form:       8-K
Filed at:   2026-07-02T20:30:32+00:00
Accession:  0001493152-26-031919
Event type: other_material
Sentiment:  neutral
Materiality: 0.60
Item codes: 1.01, 3.02, 3.03, 5.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Algorhythm Holdings exchanges $3.5M of debt for Series A Preferred Stock with Streeterville Capital
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- Exchanged $3.5M portion of Secured Pre-Paid Purchase #4 for 3,500 shares of newly created Series A Preferred Stock.
- Series A Preferred Stock has $1,150 stated value per share, accrues 9% annual preferred return, and ranks senior to common stock.
- Outstanding balance of PPP #4 reduced to $7,202,371.69 after cancellation of the partitioned amount.
- Preferred stock is non-convertible, has no voting rights except limited, and is redeemable at 110% of liquidation amount at board's discretion.
- Issuance exempt under Section 3(a)(9); no cash proceeds received.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/923601/000149315226031919/0001493152-26-031919-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/923601/000149315226031919/form8-k.htm
  HTML page:      https://secwatch.observer/filing/0001493152-26-031919

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