Core Summary - Univest Securities, LLC successfully closed a registered direct offering of approximately $2 million for its client Algorhythm Holdings, Inc [1][3] - Algorhythm Holdings, Inc is an AI-driven technology and consumer electronics holding company listed on NASDAQ under the ticker RIME [1][8] Offering Details - Algorhythm Holdings, Inc agreed to sell 24,067,388 shares of common stock at $0.0831 per share in a registered direct offering priced at-the-market under Nasdaq rules [2] - The aggregate gross proceeds from the offering amounted to approximately $2 million [3] - Univest Securities, LLC acted as the sole placement agent for the offering [4] Regulatory Information - The securities were offered pursuant to a registration statement on Form S-3 (File No 333-269183) previously filed and declared effective by the SEC on January 20, 2023 [5] - Final prospectus supplement and accompanying prospectus describing the terms of the offering were filed with the SEC and are available on the SEC's website [5] Company Profiles - Univest Securities, LLC is a full-service investment bank and securities broker-dealer firm based in New York, providing financial services including brokerage, investment banking, and wealth management [7] - Algorhythm Holdings, Inc is a leader in applying AI to key industries, driving change and unlocking new efficiencies through AI-driven solutions [8]
Univest Securities, LLC Announces Closing of $2 Million Registered Direct Offering for its Client Algorhythm Holdings, Inc. (NASDAQ: RIME)