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Form 8-K

sec.gov
RIME The company failed to make a $1.5 million payment on a promissory note, triggering an event of default. The interest rate increased, and the seller has the right to declare all outstanding amounts immediately due and payable.

8-K — Algorhythm Holdings, Inc.

Accession: 0001493152-26-021727

Filed: 2026-05-07

Period: 2026-05-02

CIK: 0000923601

SIC: 7373 (SERVICES-COMPUTER INTEGRATED SYSTEMS DESIGN)

Item: Triggering Events That Accelerate or Increase a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement

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):

May

2, 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. ☐

Item

2.04 Triggering Events That Accelerate or Increase a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement.

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.

The

Company failed to make the Initial Payment on May 2, 2026, triggering an event of default under the Promissory Note. As a result, the

interest rate applicable to the Initial Payment increased from six percent per annum to the default rate of eight percent per annum.

During the continuance of the default, the

Seller has the right, upon written notice, to declare all outstanding amounts immediately due and payable.

As

of the date of this Current Report on Form 8-K, the Seller has not exercised any remedies under the Promissory Note or sought other legal

remedies against the Company.

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:

May 7, 2026

ALGORHYTHM

HOLDINGS, INC.

By:

/s/

Alex Andre

Name:

Alex

Andre

Title:

Chief

Financial Officer and General Counsel

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Entity File Number

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Entity Registrant Name

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HOLDINGS, INC.

Entity Central Index Key

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Entity Tax Identification Number

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Entity Incorporation, State or Country Code

DE

Entity Address, Address Line One

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Entity Address, Address Line Two

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Entity Address, City or Town

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Entity Address, State or Province

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Entity Address, Postal Zip Code

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City Area Code

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Local Phone Number

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RIME

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