secwatch.observer — SEC 8-K summary
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Issuer:     Algorhythm Holdings, Inc. (RIME)
CIK:        0000923601
Form:       8-K
Filed at:   2025-05-08T23:59:59+00:00
Accession:  0001641172-25-009278
Event type: m_and_a
Sentiment:  positive
Materiality: 0.70
Item codes: 1.01, 2.01, 2.03, 3.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/923601/000164117225009278/0001641172-25-009278-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/923601/000164117225009278/form8-k.htm
  HTML page:      https://secwatch.observer/filing/0001641172-25-009278

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