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NEWS
Algorhythm Holdings, Inc. Announces $2 Million Registered Direct Offering
Tuesday, 17th December at 2:15 pm
Fort Lauderdale, FL, Dec. 17, 2024 (GLOBE NEWSWIRE) -- Algorhythm Holdings, Inc. (NASDAQ: RIME) ("Algorhythm" or the "Company"), an AI-driven technology and consumer electronics holding company today announced that it has entered into a definitive agreement with several investors for the purchase and sale of an aggregate of 24,067,388 of the Company's common stock, par value $0.01 per share (the "Common Stock") at a purchase price of 0.0831 per share in a registered direct offering priced at-the-market under Nasdaq rules.
The aggregate gross proceeds to the Company of this offering are expected to be approximately $2 million. The transaction is expected to close on or about December 18, 2024, subject to the satisfaction of customary closing conditions.
Univest Securities, LLC is acting as the sole placement agent.
The registered direct offering is being made pursuant to a shelf registration statement on Form S-3 (File No. 333-269183) previously filed by the Company and declared effective by the U.S. Securities and Exchange Commission ("SEC") on January 20, 2023. A final prospectus supplement and accompanying prospectus describing the terms of the proposed offering will be filed with the SEC and will be available on the SEC's website located at http://www.sec.gov. Electronic copies of the final prospectus supplement and the accompanying prospectus may be obtained, when available, by contacting Univest Securities, LLC at info@univest.us, or by calling +1 (212) 343-8888.
Tuesday, 17th December at 2:15 pm
Fort Lauderdale, FL, Dec. 17, 2024 (GLOBE NEWSWIRE) -- Algorhythm Holdings, Inc. (NASDAQ: RIME) ("Algorhythm" or the "Company"), an AI-driven technology and consumer electronics holding company today announced that it has entered into a definitive agreement with several investors for the purchase and sale of an aggregate of 24,067,388 of the Company's common stock, par value $0.01 per share (the "Common Stock") at a purchase price of 0.0831 per share in a registered direct offering priced at-the-market under Nasdaq rules.
The aggregate gross proceeds to the Company of this offering are expected to be approximately $2 million. The transaction is expected to close on or about December 18, 2024, subject to the satisfaction of customary closing conditions.
Univest Securities, LLC is acting as the sole placement agent.
The registered direct offering is being made pursuant to a shelf registration statement on Form S-3 (File No. 333-269183) previously filed by the Company and declared effective by the U.S. Securities and Exchange Commission ("SEC") on January 20, 2023. A final prospectus supplement and accompanying prospectus describing the terms of the proposed offering will be filed with the SEC and will be available on the SEC's website located at http://www.sec.gov. Electronic copies of the final prospectus supplement and the accompanying prospectus may be obtained, when available, by contacting Univest Securities, LLC at info@univest.us, or by calling +1 (212) 343-8888.
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105069706 : Just can say do not be greedy and take profit early.![[undefined]](https://static.moomoo.com/nnq/emoji/static/image/default/default-black.png?imageMogr2/thumbnail/36x36 "undefined")
sirstu1 : what does this mean?
71179109 : Please interpret it, great god.
Jaguar8 OP sirstu1 : Dilution
Jaguar8 OP 71179109 : It is a direct offering it means they are offering new shares to investors, not to the public. However, since it is offering new shares , it’s diluting current shareholders shares’ value
71179109 Jaguar8 OP : 谢谢！ 看样子是拿到新的投资，给新进投资人折扣优惠
Jaguar8 OP 71179109 : Sorry it doesn’t translate
71179109 : ok thanks