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.
Pick the best stocks and maximize your portfolio:
- Discover top-rated stocks from highly ranked analysts with Analyst Top Stocks!
- Easily identify outperforming stocks and invest smarter with Top Smart Score Stocks
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See Insiders’ Hot Stocks on TipRanks >>
Read More on RIME:
- Algorhythm prices 55.9M shares at 17c in public offering
- Algorhythm Holdings Reports Q3 Financial Results Amid Transformation
- Algorhythm reports Q3 EPS 13c vs 3c last year
- Singing Machine, Stingray announce karaoke partnership with BYD
- Algorhythm files to sell common stock and warrants, no amount given
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
