Algorhythm Holdings, Inc. (NASDAQ: RIME), a holding company focused on AI-driven technology and consumer electronics, has successfully closed a $9.5 million firm commitment registered public offering. The offering, which demonstrates continued investor confidence in the AI technology and consumer electronics sectors, consisted of 55,882,352 units priced at $0.17 per unit.
Each unit comprised one common share (or one pre-funded warrant) and two warrants: a Series A Warrant to purchase one common share at an exercise price of $0.17, and a Series B Warrant to purchase one common share at an exercise price of $0.34. The Series A Warrants have a five-year term from their initial exercise date, while the Series B Warrants expire after two and a half years from their initial exercise date. Both warrant series will become exercisable upon stockholder approval.
