Core Points - Algorhythm Holdings, Inc. announced a reverse stock split with a ratio of one-for-two-hundred (1:200) effective February 10, 2025, to comply with Nasdaq's minimum bid price requirement of $1.00 [2][4] - The reverse stock split will affect all issued and outstanding shares of the Common Stock, including those under equity incentive plans, and will not change stockholders' percentage interest in the Company’s equity, except for fractional shares [3][5] - Algorhythm Holdings operates two primary investments: SemiCab Holdings, a leader in AI-enabled global logistics, and The Singing Machine Company, a leader in consumer karaoke products [6][9] Algorhythm Holdings Overview - The Company is focused on AI technology and consumer electronics, with SemiCab providing a cloud-based platform that optimizes logistics and reduces costs for shippers and carriers [7][8] - SemiCab's technology has the potential to save shippers tens of billions of dollars annually and improve truck utilization rates from 65% to over 90%, significantly reducing the carbon footprint of the logistics industry [8] - The Singing Machine Company offers a wide range of karaoke products and is developing an integrated in-car karaoke system, with products available in over 25,000 locations worldwide [9]
Algorhythm Holdings Announces Date and Ratio of Reverse Stock Split