Algorhythm Terminates Highly-Dilutive $1.4 Million Financing

Termination of Financing is Expected to Avoid Dilution of More Than 8 Million Shares

Fort Lauderdale, FL, Sept. 24, 2026 (GLOBE NEWSWIRE) -- Algorhythm Holdings, Inc. (the “Company”) (NASDAQ: RIME) – a diversified holding company that owns and operates Azure Energy, a renewable power plant developer, and SemiCab, a leading AI enabled logistics provider, today announced the voluntary termination of a previously disclosed settlement transaction completed under Section 3(a)(10) of the Securities Act with Continuation Capital, Inc. The Company would have been required to issue more than 8 million additional shares of common stock to pay off the remaining balance of approximately $1.4 million.