---
schema_version: "secwatch.filing_event.v1"
accession: "0001641172-25-009278"
form_type: "8-K"
ticker: "RIME"
cik: "0000923601"
company_name: "Algorhythm Holdings, Inc."
filed_at: "2025-05-08T23:59:59+00:00"
generated_at: "2026-05-22T06:30:31.678254+00:00"
event_type: "m_and_a"
sentiment: "positive"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# Algorhythm acquires SemiCab India for $1.75M note + 119,742 shares; unit revenue run rate doubled to $4.5M

## Summary
- SemiCab Holdings acquired 99.99% of SMCB Solutions (SemiCab India) for $1.75M promissory note and 119,742 shares (~5% of outstanding).
- SemiCab India more than doubled annualized revenue run rate to ~$4.5M since Jan 2025; expects to double again by year-end.
- Ajesh Kapoor named CEO/CTO of SemiCab Holdings with board seat; Vivek Sehgal named CPO.
- Promissory note: $1.5M due in 1 year, $250k due in 18 months, 6% interest.
- Expands AI transportation footprint into India's $1.3T logistics sector; partnership with NDFE.

## SEC filing metadata
- accession: 0001641172-25-009278
- form_type: 8-K
- ticker: RIME
- cik: 0000923601
- company_name: Algorhythm Holdings, Inc.
- filed_at: 2025-05-08T23:59:59+00:00
- event_type: m_and_a
- sentiment: positive
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 1.01, 2.01, 2.03, 3.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/923601/000164117225009278/0001641172-25-009278-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/923601/000164117225009278/form8-k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001641172-25-009278
- JSON: https://secwatch.observer/filing/0001641172-25-009278.json
- Plain text: https://secwatch.observer/filing/0001641172-25-009278.txt

## Key facts
- Debt Financings
  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
  source text: 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
  evidence_url: https://www.sec.gov/Archives/edgar/data/923601/000164117225009278/0001641172-25-009278-index.htm
- M&A Transactions
  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
  source text: 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
  evidence_url: https://www.sec.gov/Archives/edgar/data/923601/000164117225009278/0001641172-25-009278-index.htm

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