Algorhythm holdings announces a pause on capital raising activities

Fort lauderdale, fl, dec. 23, 2024 (globe newswire) -- algorhythm holdings, inc. (“algorhythm” or the “company”) (nasdaq: rime) – an ai technology and consumer electronics holding company, announced it will pause new capital raising activities for the next six months. in light of the company's current cash position, combined with a comprehensive assessment of the current market environment and our business operations, our management team has decided to suspend seeking out any new financing plans for the next six months. during this period, the company will not seek new investments including transactions like an “at-the-market” (atm) offering or usage of the company's shelf registration statement.
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