Algorhythm Holdings Announces Termination of its At-the-Market Equity Program
Algorhythm Holdings, Inc. (RIME)
Company Research
Source: GlobeNewswire
Fort Lauderdale, FL, Oct. 08, 2024 (GLOBE NEWSWIRE) -- Algorhythm Holdings, Inc. (“Algorhythm”) (NASDAQ: RIME), an AI-driven technology and consumer electronics holding company, announced it has terminated its “at-the-market” (“ATM”) equity program with Ascendiant Capital, LLC, as sales agent (the “Agent”). The Company elected to terminate the ATM because it had achieved its objective of raising capital under the ATM. Through the utilization of the most recently amended ATM, the Company raised approximately $1.4 million in gross proceeds, selling approximately 2.16 million shares of common stock at an average share price of $0.65 per share. Gary Atkinson, the Company’s CEO commented, “We’re pleased to have successfully utilized the ATM as the most cost-effective form of raising equity capital. The Company successfully met its goal of bolstering its balance sheet without issuing warrants or providing a discount to market. The proceeds from the ATM will provide the Company with acces
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RIME
Sec Filings
- 11/19/24 - Form 10-Q
- 11/14/24 - Form NT
- 11/13/24 - Form 8-K
- RIME's page on the SEC website