Algorhythm Terminates Highly-Dilutive $1.4 Million Financing
Algorhythm Holdings announced the voluntary termination of a previously disclosed settlement transaction with Continuation Capital under Section 3(a)(10) of the Securities Act. The termination avoids issuing more than 8 million additional common shares that would have been required to pay the remaining balance of approximately $1.4 million.
Why it matters — A RIME watcher would care because completing this termination avoids significant dilution of more than 8 million shares of the company's common stock.