Algorhythm terminates at-the-market equity program

Algorhythm Holdings has terminated its “at-the-market” equity program with Ascendiant Capital, LLC, as sales agent. The Company elected to terminate the ATM because it had achieved its objective of raising capital under the ATM. Through the utilization of the most recently amended ATM, the Company raised approximately $1.4 million in gross proceeds, selling approximately 2.16 million shares of common stock at an average share price of $0.65 per share.