secwatch.observer — SEC 8-K summary
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Issuer:     Algorhythm Holdings, Inc. (RIME)
CIK:        0000923601
Form:       8-K
Filed at:   2026-09-21T21:17:20+00:00
Accession:  0001493152-26-043599
Event type: m_and_a
Sentiment:  positive
Materiality: 0.90
Item codes: 1.01, 5.02, 2.01, 9.01, 2.03, 3.02, 3.03, 5.03, 7.01
LLM model:  deepseek-v4-flash:cloud@v2

Algorhythm acquires Azure Energy renewable assets for $23M stock; new CEO appointed
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- Acquired substantially all assets of Azure Energy for $23M in Parent stock: 4,076,312 common shares (19.99%) and 22,038 Series B preferred.
- Option to buy 79.0286% of Azure Energy S.R.L. for $30M exercise price, exercisable for 36 months; up to 50% cash, balance in Series B preferred.
- CEO Gary Atkinson and CFO Alex Andre terminated; Andrew Thompson named CEO, Ryan Smith COO, Leticia Raele interim CFO and CAO.
- Exchanged 3,500 Series A preferred shares for $4,025,000 Secured Pre-Paid Purchase #5 at 9% interest, due 2029; existing Series A cancelled.
- Board expanded from 6 to 7 directors; Thompson appointed Chairman; Seller nominated two directors including Thompson and Gregory D. Smith.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/923601/000149315226043599/0001493152-26-043599-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/923601/000149315226043599/form8-k.htm
  HTML page:      https://secwatch.observer/filing/0001493152-26-043599

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