Algorhythm Holdings, Inc. - 8-K Filing
Algorhythm Holdings defaulted on a $1.5 million payment due May 2, 2026 under a promissory note issued to SemiCab Inc., triggering an interest rate increase from 6% to 8%. The default stems from the company's failure to meet its first annual obligation of a two-part $1.75 million debt. (Items: 2.04 Triggering Events That Accelerate or Increase a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement)
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