Algorhythm Holdings raises $1 million in third pre-paid purchase agreement

Algorhythm Holdings Inc. (NASDAQ: RIME) entered into its third secured pre-paid purchase agreement with Streeterville Capital LLC on December 19, 2025, according to a company statement.

The transaction provides $1,090,000 in principal amount before deducting a $90,000 original issue discount, resulting in net proceeds of $1 million. The agreement carries a 9% annual interest rate and matures in three years.

This marks the third transaction under a securities purchase agreement signed August 21, 2025, which allows for aggregate pre-paid purchases of up to $20 million. Under the arrangement, Algorhythm issues and sells shares of common stock to the Utah-based limited liability company.

The company paid Univest Securities LLC, serving as placement agent, a cash fee equal to 8% of gross proceeds from the transaction.

The securities sale was completed through a private placement transaction exempt from Securities Act registration requirements under Section 4(a)(2), without advertising or general solicitation.

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