Extracted from this filing and checked against the source text.
Debt Financings
SEC 8-K Item 2.03/2.04
confidence 0.9
Algorhythm Holdings, Inc. incurred loan of $1,500,000 is due and payable by the Company on the first anniversary of the Closing Date and the remaining $250,000 with SemiCab, Inc. at six percent per annum maturing first anniversary of the Closing Date; 18-month anniversary of the Closing Date.
- Instrument
- loan
- Principal
- $1,500,000 is due and payable by the Company on the first anniversary of the Closing Date and the remaining $250,000
- Counterparty
- SemiCab, Inc.
- Rate
- six percent per annum
- Maturity
- first anniversary of the Closing Date; 18-month anniversary of the Closing Date
- Event
- incurrence
Exact text from the filing
and Restated Operating Agreement”) which sets forth the terms and conditions governing the operation and management of SemiCab Holdings. The Promissory Note provides that $1,500,000 is due and payable by the Company on the first anniversary of the Closing Date and the remaining $250,000 is due and payable by the Company on the 18-month anniversary of the
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M&A Transactions
SEC 8-K Item 2.01/5.01
confidence 0.9
Algorhythm Holdings, Inc. completed an acquisition involving SemiCab Inc. for $1.75 million promissory note and 119,742 shares of its common stock (closed 2025-05-02).
- Action
- acquisition
- Counterparty
- SemiCab Inc.
- Consideration
- $1.75 million promissory note and 119,742 shares of its common stock
- Closing
- 2025-05-02
Exact text from the filing
SemiCab Holdings purchased 9,999 shares of the issued and outstanding equity shares, Rs. 10 par value, of SMCB Solutions Private Limited, an Indian company ("SMCB"), representing 99.99% of the issued and outstanding equity shares of SMCB, for $1,750,000, the payment of which amount was evidenced by the issuance of a promissory note by the Company to the Seller
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