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Form 8-K

sec.gov
RIME The article is a Form 8-K filing, which is a report of unscheduled material events or corporate changes. It does not contain any sentiment-based information about the company's performance or prospects.

8-K — Algorhythm Holdings, Inc.

Accession: 0001493152-26-029603

Filed: 2026-06-22

Period: 2026-06-16

CIK: 0000923601

SIC: 7373 (SERVICES-COMPUTER INTEGRATED SYSTEMS DESIGN)

Item: Entry into a Material Definitive Agreement

Item: Financial Statements and Exhibits

Documents

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UNITED

STATES

SECURITIES

AND EXCHANGE COMMISSION

Washington,

D.C. 20549

FORM

8-K

CURRENT

REPORT

Pursuant

to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date

of Report (Date of earliest event reported):

June

16, 2026

ALGORHYTHM

HOLDINGS, INC.

(Exact

Name of Registrant as Specified in Charter)

Delaware

001-41405

95-3795478

(State or Other Jurisdiction

(Commission

(IRS Employer

of Incorporation)

File Number)

Identification No.)

6301 NW 5th

Way, Suite 2900

Fort Lauderdale, FL

33309

(Address of Principal Executive

Offices)

(Zip Code)

Registrant’s Telephone Number, Including Area

Code:

(954)

800-0425

Not

Applicable

(Former

Name or Former Address, if Changed Since Last Report)

Check

the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under

any of the following provisions (see General Instruction A.2. below):

☐

Written communications

pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐

Soliciting material pursuant

to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐

Pre-commencement communications

pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐

Pre-commencement communications

pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities

registered pursuant to Section 12(b) of the Act:

Title of

each class

Trading Symbol(s)

Name of each

exchange on which registered

Common Stock, par value

$0.01 per share

RIME

The

Nasdaq Stock Market LLC

(The

Nasdaq Capital Market)

Indicate

by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405

of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging

growth company ☐

If

an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying

with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Section

1 - Registrant’s Business and Operations Item

1.01 Entry into a Material Definitive Agreement.

On

May 2, 2025, Algorhythm Holdings, Inc. (the “Company”) issued a promissory note in the principal amount of $1,750,000 (the

“Promissory Note”) to SemiCab, Inc., a Delaware corporation (the “Seller”), pursuant to an equity purchase agreement

(the “Equity Purchase Agreement”) among the Company and its subsidiary, SemiCab Holdings, LLC, a Nevada limited liability

company (“SemiCab Holdings”), and the Seller. The Promissory Note provides that $1,500,000 is due and payable by the Company

on the first anniversary of the date of issuance, or May 2, 2026 (the “Initial Payment”), and the remaining $250,000 is due

and payable by the Company on the 18-month anniversary of the date of issuance, or November 2, 2026.

On

May 9, 2026, the Company and the Seller entered into a forbearance agreement pursuant to which: (i) the Seller irrevocably

waived any default or event of default that was or will be caused under the Promissory Note as a result of the Company’s failure

to pay the Initial Payment to the Seller on May 2, 2026, and (ii) the Seller will forbear from taking action with respect to any defaults

or events of default arising after the date of the forbearance agreement with respect to the Company’s failure to make such

payment that occur at any time on or prior to June 16, 2026.

On

June 16, 2026, the Company and the Seller entered into a second forbearance agreement pursuant to which: (i) the Seller

irrevocably waived any default or event of default that was or will be caused under the Promissory Note as a result of the Company’s

failure to pay the Initial Payment to the Seller on May 2, 2026, and (ii) the Seller will forbear from taking action with respect to

any defaults or events of default arising after date of the forbearance agreement with respect to the Company’s failure

to make such payment that occur at any time on or prior to July 16, 2026.

The

foregoing description of the second forbearance agreement does not purport to be complete and is qualified in its entirety by

reference to Exhibit 10.1 to this Current Report on Form 8-K and incorporated by reference herein.

Item

9.01 Financial Statement and Exhibits.

Exhibit No.

Description

10.1

Forbearance Agreement, dated June 16, 2026, by and between Algorhythm Holdings, Inc. and SemiCab, Inc.

104

Cover Page Interactive

Data File (embedded within the Inline XBRL document)

SIGNATURE

Pursuant

to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by

the undersigned hereunto duly authorized.

Date: June 22, 2026

ALGORHYTHM HOLDINGS, INC.

By:

/s/ Alex Andre

Name:

Alex Andre

Title:

Chief Financial Officer and General Counsel

EX-10.1

EX-10.1

Filename: ex10-1.htm · Sequence: 2

Exhibit

10.1

FOREBEARANCE

AGREEMENT

This

Forbearance Agreement (this “Agreement”), dated June 16, 2026 (the “Effective Date”), is entered into by and

between Algorhythm Holdings, Inc., a Delaware corporation (the “Company”), and SemiCab, Inc., a Delaware corporation (“Noteholder”).

Capitalized terms not otherwise defined herein shall have the meaning ascribed to such terms in the Promissory Note (as defined below).

WITNESSETH:

WHEREAS,

the Company and Noteholder are parties to that certain promissory note, dated May 2, 2025, in the principal amount of $1,750,000 (the

“Promissory Note”); and

WHEREAS,

under the terms of the Promissory Note, the Company was required to pay the Initial Payment Amount to Noteholder on May 2, 2026; and

WHEREAS,

the Company failed to pay the Initial Payment Amount to Noteholder on May 2, 2026; and

WHEREAS,

the Company and Noteholder wish to enter into this Agreement to waive any default or Event of Default that was or will be caused as a

result of the Company’s failure to pay the Initial Payment Amount to Noteholder on May 2, 2026.

NOW,

THEREFORE, in consideration of the promises and conditions set forth herein and other consideration, the receipt and sufficiency of which

are hereby acknowledged, and intending to be legally bound hereby, the Company and Noteholder agree as follows:

1.

Noteholder hereby irrevocably waives any default or Event of Default that was or will be caused under the Promissory Note as a result

of the Borrower’s failure to pay the Initial Payment Amount to Noteholder on May 2, 2026. Lender will forbear from taking action

with respect to any defaults or Events of Defaults arising after the Effective Date with respect to Borrower’s failure to make

such payment that occur at any time on or prior to July 16, 2026. Except as expressly provided herein, the Promissory Note shall remain

in full force and effect.

2.

This Agreement shall be governed by and construed in accordance with the laws of the State of Florida. This Agreement may be executed

in two or more counterparts and delivered via facsimile or other electronic transmission, each of which shall be deemed to be an original,

but all of which together shall constitute one and the same agreement.

IN

WITNESS WHEREOF, the parties have executed this Agreement as of the date written above.

ALGORHYTHM HOLDINGS

SEMICAB, INC.

By:

/s/

Gary Atkinson

By:

/s/

Ajesh Kapoor

Name:

Gary Atkinson

Name:

Ajesh Kapoor

Title:

Chief Executive Officer

Title:

Chief Executive Officer

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