Algorhythm (RIME) Holdings 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 at a purchase price of 8.31c 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 $2M. Univest Securities is acting as the sole placement agent.
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